New York State Licenses Three Upstate Casinos

Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, comments on New York state regulators issuing licenses for three new casinos in Upstate New York.

The State Gaming Commission of New York awarded licences to the Montreign Resort Casino in the Catskills, the Rivers Casino in Schenectady, and the Lago Resort and Casino in Tyre (a town in Seneca County). While preliminary work has already begun, formal licensure will allow the projects to move forward with construction and financing. The three casinos are expected to be operating within two years. (Source: Bagli, C., “New York Awards Licenses to 3 Casinos,” The New York Times web site, December 21, 2015; http://www.nytimes.com/2015/12/22/nyregion/new-york-awards-licenses-to-3-casinos.html?_r=0.)

“Each year, roughly seven million Canadians visit New York State, making it the top tourist destination in the U.S.,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services. “New York’s 19 commercial and tribal casinos also make it one of the top destinations for those who enjoy gaming.” (Source: “Canada and the United States,” Government of Canada web site, last accessed December 21, 2015; http://can-am.gc.ca/business-affaires/fact_sheets-fiches_documentaires/ny.aspx?lang=eng).

Sacks explains that while New York is the most popular state for Canadian visitors, it’s important to remember that casino winnings in the U.S. are considered income by the IRS. Therefore, significant winnings—typically those over $1,200—are subject to a 30% withholding tax. But, those who live in a country that has signed a U.S. tax treaty— like Canada, for example—may be eligible for a refund.

“Since 1998, we have been helping Canadian and other non-U.S. residents recoup some or all of their seized gambling winnings, and we have never been refused an eligible refund,” Sacks explains. “With these new Vegas-style casinos opening up just south of the border, Canadians who patronize them are likely going to want to ensure that they get to keep everything that Lady Luck gifts them.”

Founded and owned by a Canadian Chartered Accountant, Refund Management Services (RMS) is the most reputable casino and gaming tax recovery service in the industry. As registered Certified acceptance agents, RMS helps Canadians and other non-U.S. residents recover all or a portion of their taxes up to three years after their winnings have been withheld. With the expertise in gaming-related tax laws, RMS understands all the IRS requirements for refunds and only gets paid for successful gambling tax refunds. RMS is also a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. More information can be found on its web site at www.RefundManagement.com.

Leave a Reply

Scroll to Top