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Wednesday, August 27, 2008

Seneca Nation Suspends Construction In Buffalo and Salamanca

WESB News: 08/27/08 - Construction Work Stopped in Salamanca

The Seneca Nation of Indians has suspended construction at its Salamanca and Buffalo projects.

In a news release this afternoon, the Seneca Gaming Corporation said the suspension is due to "various factors, including challenging economic and capital market conditions, greater demands on the company's available cash, and increased competition and construction costs."

Seneca Gaming Corporation had been putting up steel for both the $130 million hotel expansion at Seneca Allegany Casino & Hotel in Salamanca and the $333 million permanent Seneca Buffalo Creek Casino in Buffalo, where the company currently operates a temporary casino.

Existing operations at the two facilities will not be affected, nor will the operation of the company's flagship facility, Seneca Niagara Casino & Hotel in Niagara Falls, New York.

Seneca Gaming Corporation Chairman Barry Snyder Sr. says they forward to resuming and completing construction of these two world-class projects at the appropriate time.

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