NEW YORK GAMING ASSOCIATION UNVEILS STATEWIDE 2015 ECONOMIC IMPACT REPORT

For Immediate Release: April 6, 2016
Contact: Michael Wilton, 518-436-1122

NEW YORK GAMING ASSOCIATION UNVEILS STATEWIDE 2015 ECONOMIC IMPACT REPORT

Report: NYGA’s Facilities Spurred $3 Billion In Economic Activity For New York State

Generating $888 Million For Education, A Significant And Consistent Source Of Funding Totaling $6.4 Billion Over Last 10 Years

Supported Nearly 27,000 Quality Jobs Throughout New York State

ALBANY, NY – The New York Gaming Association (NYGA) today released the 2015 Annual Statewide Economic Impact Report detailing how New York’s gaming industry brings statewide economic activity, quality jobs, and significant education funding to New York. NYGA represents nine member facilities, located in every region of New York State. These facilities have a combined $3 billion economic impact, directly employ 5,100 management and union professionals, support another 27,000 jobs statewide, and provided $888 million last year in critical and substantial support for New York’s schools.  Plus, NYGA members provided much needed revenue to local governments, and generated over $245 million in support of New York’s racing and breeding industries.

“As a vital industry in New York, gaming had a $3 billion economic impact in 2015 with over $888 million contributed to education, continuing to be a significant source of funding for education and for the state,” said James Featherstonhaugh, President of the New York Gaming Association. “Gaming facilities throughout New York State continue to be economic drivers for their local communities, providing much needed jobs and economic activity in towns and cities across the state.”

NYGA facilities have been a strong source of economic activity on the state and local levels, providing critical funding for our public schools, tax revenue for local governments, capital investment that generates construction jobs, and support for local businesses. The revenue NYGA members generate for racing and breeding also directly supports upstate agribusiness that includes family farms and thousands of jobs.  NYGA’s educational contribution has been growing annually, and now totals $6.4 billion for New York State schools since 2004. Furthermore, NYGA generated $77 million in tax revenue for state and local governments, bringing their total tax revenue contribution to $304 million since 2007.

Top Line Findings Include:

  • $3 billion in combined economic activity in 2015
  • $888 million generated in funding for New York State education aid in 2015, and a total of $6.4 billion from 2004 to 2015
  • $77 million in tax revenue for state and local governments in 2015, and $304 million since 2007
  • $40 million in capital investments to NYGA’s facilities in 2015, and $1.5 billion since building the original facilities
  • $218 million in support of New York’s racing industry both Standardbred and Thoroughbred
  • $27 million for breeding and agricultural related businesses such as family farms, feed producers and veterinarians

NYGA and its members continue to bring economic strength and benefits to local communities and New York statewide. The full report can be found here, including a breakdown of top line findings from each of NYGA’s nine member facilities: http://newyorkgaming.org/press-media/