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SYRACUSE, N.Y. — Health-care provider Loretto recently hired Lori Sakalas as chief operations officer. She will oversee the day-to-day- operations of Loretto’s skilled nursing facilities
SUNY campuses receive funding to improve child care
New York has launched an initiative to expand and create child-care centers for students and faculty across State University of New York campuses, particularly in
ICS acquires Massachusetts firm
ENDICOTT, N.Y. — ICS announced it has acquired Unified Networking Solutions of Raynham, Massachusetts, a provider of information-technology (IT) services in the Southeastern Massachusetts market.
Oswego Health installs new system for real-time, X-ray images
OSWEGO, N.Y. — Oswego Health says it has installed an advanced, dual-use radiography and fluoroscopy imaging system that will help doctors get real-time X-ray images
New York posts lowest COVID positive test rate in nearly 8 months
ALBANY, N.Y. — New York State on Friday reported its lowest seven-day COVID positive-test rate, 1.44 percent, since last July 20. The daily statewide positivity
MOST receives $50,000 from Shineman Foundation for Oswego County Discovery Sessions
SYRACUSE — The Milton J. Rubenstein Museum of Science & Technology (MOST) recently announced it received $50,000 from the Richard S. Shineman Foundation for its Oswego County Discovery Sessions science program. The initiative will bring a virtual or in-person, 45-minute classroom-based science demonstration to all 78 sixth-grade classes in 16 school buildings in Oswego County,
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SYRACUSE — The Milton J. Rubenstein Museum of Science & Technology (MOST) recently announced it received $50,000 from the Richard S. Shineman Foundation for its Oswego County Discovery Sessions science program.
The initiative will bring a virtual or in-person, 45-minute classroom-based science demonstration to all 78 sixth-grade classes in 16 school buildings in Oswego County, per a MOST news release.
Teachers are offered the option to choose among several different science demonstrations that meet New York State and Next Generation Science Standards for the sixth-grade curriculum. All science demonstrations will be given by a MOST science educator and supplement classroom learning. In addition to virtual classroom programming, each student will receive a free family pass to visit the MOST, enabling students to continue their science-education journey more informally, the museum said.
The MOST is a hands-on science and technology museum for all ages. The MOST hosts numerous STEM education programs and community outreach events annually and is home to 35,000 square feet of interactive permanent and traveling exhibits.
ConMed to pay 1st quarter dividend of 20 cents on April 5
ConMed Corp. (NYSE: CNMD), a surgical-device maker started in the Utica area, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the first quarter of the year. The dividend is payable on April 5 to all shareholders of record as of March 15. ConMed manufactures
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ConMed Corp. (NYSE: CNMD), a surgical-device maker started in the Utica area, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the first quarter of the year.
The dividend is payable on April 5 to all shareholders of record as of March 15.
ConMed manufactures surgical devices and equipment for minimally invasive procedures. The company’s products are used by surgeons and physicians in specialties that include orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.
The company in late January reported sales of $274 million in the fourth quarter of 2021, up more than 8 percent from the year-ago quarter. ConMed produced sales of $1.01 billion for the full-year 2021, up over 17 percent from 2020.
ConMed, which was headquartered in the Utica area for 50-plus years, at the beginning of 2021 designated Largo, Florida (the Tampa Bay area) as its corporate headquarters. Its Utica–area facility is located at 525 French Road in New Hartford, where the company continues to maintain its manufacturing, finance, human resources, legal, and other corporate functions. The Florida office houses its CEO and other key executives.
Jefferson County hotels post 12% rise in occupancy in January
WATERTOWN — More guests stayed overnight in hotels in Jefferson County in January compared to the year-ago month, continuing the hospitality industry’s comeback from the pandemic, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 12 percent to 32.2 percent in the first month
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WATERTOWN — More guests stayed overnight in hotels in Jefferson County in January compared to the year-ago month, continuing the hospitality industry’s comeback from the pandemic, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 12 percent to 32.2 percent in the first month of 2022, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, climbed 24.5 percent to $30.24 in January compared to a year prior.
Average daily rate (or ADR), which represents the average rental rate for a sold room, went up 11.1 percent to $94.02 in January from the same month in 2021.
This was the 11th straight strong monthly hotel-occupancy report for Jefferson County. These are the first 11 months in which the year-over-year comparisons were to a month hindered by the COVID pandemic. The 12 reports before that each featured double-digit declines in occupancy as the comparisons were to a month before the pandemic started.
Five Star Bank parent company increases quarterly dividend by more than 7 percent
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is boosting its quarterly dividend by 7.4 percent. The banking company will pay a quarterly cash dividend of 29 cents per common share outstanding for the first quarter of this year, up from the 27 cents a share it
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is boosting its quarterly dividend by 7.4 percent.
The banking company will pay a quarterly cash dividend of 29 cents per common share outstanding for the first quarter of this year, up from the 27 cents a share it paid for the fourth quarter of last year.
Financial Institutions said it will pay the new, higher dividend on April 4, to shareholders of record on March 18.
“Following strong earnings performance in 2021, this 7.4% increase in the common stock dividend reflects our Board’s confidence in the Company’s strategy and earnings potential,” Martin K. Birmingham, Financial Institutions’ president and CEO, said in a Feb. 17 statement. “Today’s announcement represents our 12th consecutive annual dividend increase. This increase, and an ongoing share repurchase program, demonstrate our continued commitment to shareholder return.”
At the banking company’s current stock price, the new dividend yields about 3.7 percent on an annual basis.
Five Star Bank, based in Warsaw in Wyoming County, has more than 45 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Seneca Falls, Geneva, Ovid, Horseheads, and Elmira.
Financial Institutions and its subsidiaries employ about 600 people.
Del Lago Resort & Casino’s new owner to be in place by year-end
The company that operates del Lago Resort & Casino is expected to have a new owner by the end of 2022. Churchill Downs Inc.(CDI) (NASDAQ: CHDN) plans to acquire “substantially all” of the assets of Richmond, Virginia–based Peninsula Pacific Entertainment LLC (P2E) for nearly $2.5 billion. Del Lago is visible from and located just off the
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The company that operates del Lago Resort & Casino is expected to have a new owner by the end of 2022.
Churchill Downs Inc.(CDI) (NASDAQ: CHDN) plans to acquire “substantially all” of the assets of Richmond, Virginia–based Peninsula Pacific Entertainment LLC (P2E) for nearly $2.5 billion.
Del Lago is visible from and located just off the New York State Thruway in the town of Tyre in Seneca County.
Louisville, Kentucky–based CDI owns horse-racing tracks, casinos, and online-wagering platforms. It is most known for operating the Kentucky Derby and the Churchill Downs racetrack where the world-famous horse race is held annually.
CDI will acquire all of P2E’s assets in New York and Virginia, as well as the operations of its Sioux City, Iowa casino property.
The P2E transaction is dependent on usual and customary closing conditions, including the company obtaining approvals from the New York State Gaming Commission, the Virginia Racing Commission, and the Iowa Racing and Gaming Commission.
The transaction is expected to close by the end of 2022, per a news release on the CDI website.
“This unique set of assets expands our geographic footprint and provides additional scale,” Bill Carstanjen, CEO of CDI, said. “P2E has done an exceptional job developing and managing this collection of assets, which we are very excited to acquire and plan to strategically grow in the years ahead.”
Del Lago is among the properties that CDI will acquire in this deal. It’s a 96,000-square-foot casino with about 1,700 slot machines, 80 table games, a 205-room hotel, nine restaurants / bar areas, 758 covered parking spaces, a 6,000-square-foot sportsbook area, a 2,400-seat entertainment venue, and a 7,200-square-foot outdoor event venue.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.