Good year for racinos
The state's nine racinos had a $1.7 billion impact on the state's economy and contributed $823 million for education funding in 2012, according to a report released this morning by the organization that represents the racinos.
The New York Gaming Association argues that its report for last year demonstrates that the state's gambling model is better than most, with New York's markets growing, while other state's see the opposite trend. NYGA includes the Saratoga Casino & Raceway.
“It goes beyond the numbers. Our members have a special commitment to the communities in which they operate,” said NYGA President James D. Featherstonhaugh in a statement. “The most important facet of the New York gaming model is that it is by, for and about New Yorkers. And as this report shows, our nine existing facilities are tremendous economic assets that should be nurtured and developed.”
The results of the report were compiled in a flipbook delivered to all 212 state legislators today.
In the 2012 fiscal year, which ended on March 31, the nine racinos generated gross gaming revenues of $1.83 billion, an increase of 22 percent compared to the last year.
The report highlighted the fact that NYGA members have contributed $3.8 billion toward education in the last nine years. Additionally, they note that the nine racinos directly employed more than 6,000 people last year.
Also today, NYGA released an online advertisement that emphasizes its members are a reliable partner for New York. This message is part of their campaign to be chosen for any live-table gaming, if a constitutional amendment is approved.
That ad is available below.
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