A historic deal has been reached today between the Oneida Indian Nation, New York State along with Madison and Oneida counties.

Governor Cuomo and Oneida leader Ray Halbritter made the announcement Thursday during a news conference in Albany.

The tribe has agrred to share the wealth so to speak with the state and two local counties in return for several guarantees.

The Oneidas have agreed to pay the state and Oneida and Madison Counties millions each year and those counties have agreed to drop thier land claim cases against the indian tribe.

The state also agrees not to build a competing casino in the 10 county Central New York region that might affect the nation's Turning Stone Casino in Verona.

The Oneidas have agreed to turn over 25 percent of their gaming revenues to the parties involved. That means the state could take in 12 million a year. Madison County could get 2.5 million on a yearly basis and 3.5 million for Oneida County.

Madison County will also get a one-time 11 million dollar payment to settle thier disputes with the Oneidas and they agree to drop thier land claim issues.

This deal though still has to be approved by U.S. Interior Department, along with the legislatures in Madison and Oneida Counties.