Dispute Settled Between Seneca Nation and New York State

June 13, 2013 Updated Jun 13, 2013 at 7:24 PM EDT

By Mitch Simon

June 13, 2013 Updated Jun 13, 2013 at 7:24 PM EDT

NIAGARA FALLS, N.Y. (WKBW) - A settlement has been reached between New York State and the Seneca Nation.

Governor Cuomo was in Niagara Falls Thursday afternoon to make the announcement about the ongoing dispute with the Seneca Nation.

Since 2009, the Seneca's had been putting required revenue payments into escrow because they claim New York State has violated the 2002 gaming compact.

The amount now totals close to $500-million dollars.

Under the terms of the gaming compact, the Seneca's were promised an exclusive gaming zone in the Western Part of New York State.

But when New York allowed gaming machines at three racetracks within the exclusivity zone, the Seneca Nation stopped making the payments.

The Seneca Nation agreed to paying the City of Niagara Falls $89 million. Salamanca will also receive $34 million and Buffalo will receive $15 million. All of the municipalities are getting 100% of what was owed by the Seneca Nation.