Buffalo Business Report - Tuesday, March 18th 2014
A report in New York's Newsday indicates that Delaware North has signed an agreement with Suffolk Off-Track Betting Corp. to run a planned casino with 1,000 electronic slot machines. Through the 10-year deal, Delaware North would provide up to $65 million in up-front financing and guarantee at least $58 million in revenue over the next decade. Both sides hope to finalize the casino's location within a month. The deal cannot take effect until OTB officials get approval from a federal bankruptcy court in early April.
M&T Bank has rolled out its Merchant Healthcare Payment Manager. According to Business First, it's designed for use by hospitals, medical practices and dental offices. This merchant payment product aims to inform providers of the actual costs to be paid by patients and reduce uncollected bills.
The Empire State Manufacturing Survey turned higher in March, as the general business conditions index rose to 5.6 from 4.5 a month ago.