NICHOLS, N.Y. (WENY) – Tioga Downs Casino and Resort owner Jeff Gural is pledging $1 million annual to non-profit organizations in local communities.
At an event which took place yesterday, Gural said details are still to be worked out, but he expects the new Gural Foundation will distribute the funds annually through an application and qualification process in the same manner as other philanthropic organizations.
"Those of us who are fortunate enough to be wealthy have a moral obligation to give to people who are struggling," Gural said. "When you die the only thing you leave behind is your reputation. No one cares if you were rich or poor."
With a projected annual $1million is disbursements, the foundation will be one of the largest philanthropic organizations giving money to just local non-profits.
As of this spring, Tioga Downs is now turning a profit, according to Gural. According to numbers filed with the New York Gaming Commission, nearly $253 million was bet at the casino from April through June, with $20 million in profits. Of that $20 million, $13 million was kept by the casino; $5.4 million was returned to the state; $339,000 was returned to Tioga County and the Town of Nichols; $364,000 was returns to Broome County; $184,000 to Tompkins County; $75,00 to Chemung County; and a combined $54,000 to Wayne and Schuyler Counties.
Some information taken from our media partner, The Elmira Star Gazette: www.stargazette.com