New York Gaming Association Members Helping to Control Property Taxes:
Generate More than $71 Million in July for Education
(Albany, NY) New York Gaming Association (NYGA) members continue to produce significant funding for New York’s schools, generating over $71 million for public education in July, according to data available on the Division of Lottery’s website. In addition to directly funding New York’s public schools, the monthly payments help keep property taxes down for all New Yorkers by offsetting the cost of education. Funding for education by NYGA members increased by nearly $3.2 million from June.
“Month after month, and year after year, New York Gaming Association members generate critical funding that goes directly to support education,” said James Featherstonhaugh, president of NYGA. “Our members are proud of the reliable contributions we make that help to control property taxes as well as support educational programs for our schools.”
To put $71 million for public education into perspective: the nine racetrack casinos supported the equivalent of 12,223 teacher’s jobs in the month of July alone. New York State Department of Labor data indicates that the average monthly salary for elementary and secondary school teachers in New York is $5,810.
In addition, nearly $17.4 million was generated to support businesses connected to the racing industry, including family farms, the preservation of open space and over 35,000 jobs in the racing and breeding industry such as veterinarians, breeders, barn managers, trainers etc.
Last month, NYGA announced that its members, who operate at a tax rate of 68%, have generated $620 million in tax revenue for New York, according to statistics covering the first six months of 2012. That is nearly double the amount of tax revenue the Las Vegas Strip and Atlantic City casinos generated for their home states combined despite having full-fledged casinos.
New York Gaming Association members currently employ more than 5,500 New Yorkers and have, over their history, generated $3.3 billion for education, more than $170 million in aid for local governments and $715 million in support of the New York State racing & breeding industry, impacting family farms and preserving open space.
The New York Gaming Association (NYGA) is comprised of the nine racetrack casinos located at harness and thoroughbred racing venues throughout the state. NYGA members include, Resorts World Casino New York at Aqueduct Racetrack, Empire City Casino at Yonkers Raceway, Saratoga Casino & Raceway, Finger Lakes Casino & Racetrack, Empire Resorts/Monticello Casino & Raceway, Hamburg Casino at Buffalo Raceway, Tioga Downs Casino, Vernon Downs Casino & Hotel and Batavia Downs Casino.
More information on the New York Gaming Association is available at www.newyorkgaming.org