According to the New York Gaming Association, the state’s nine racinos reported gaming revenues of $147 million for January, up 8 percent from last year. Those statistics put the racinos ahead of casinos in New Jersey (whose revenue fell 16 percent for the same period) and Pennsylvania (whose revenue fell 1 percent). This is despite a higher tax rate of 67 percent in New York racinos versus 55 percent in Pennsylvania casinos and 9.25 percent in Atlantic City.
Racinos hope that the results will convince Gov. Andrew Cuomo to give tracks preference in the expanded gaming initiative currently being debated in New York.
“While other Northeast gaming states continue to struggle, New York’s model is thriving, allowing us to generate ever-growing revenue for education and support for the racing and breeding industry,” NYGA President James Featherstonhaugh told Blood-Horse.