New York Sees 7% Increase While PA, CT & Atlantic City Slump This Month
NYGA Members Generate $74 million for Education in April
(Albany, NY) New York Gaming Association (NYGA) members continued positive growth for the year by generating more than $167 million in gross gaming revenues for the month of April, representing a 7 percent increase over the same period last year. By comparison, April slot revenues fell 14 percent in New Jersey’s Atlantic City, 7 percent in Connecticut and 4 percent in Pennsylvania.
New York’s racetrack casinos also generated over $112 million in tax revenues for the month of April, including $74 million for education, an increase of $5 million or 7.4 percent. In addition to funding for education, NYGA members generated $20 million to the racing and breeding industry and $17 million for video lottery program operations. “NYGA members are proud to be a shining example of an exceptionally successful public-private partnership,” said NYGA President James D. Featherstonhaugh. “Especially when compared with our neighboring states, the strength of the New York model is backed by our numbers and our ability to increasingly generate much needed funding for schools, and support for the racing and breeding industries.”
New York’s 67 percent effective tax rate is one of the highest in the nation – compared to New Jersey/Atlantic City at 9.25 percent, Connecticut at 25 percent and Pennsylvania at 55 percent. According to the American Gaming Association’s 2013 State of the State analysis, New York ranks among the top three states in tax revenue generation, including $823 million in support of education in 2012.
The strength of the New York model is further highlighted by comparing it to the Northeast region as a whole. Excluding New York, the other Northeast gaming states – Connecticut, New Jersey, and Pennsylvania – collectively witnessed a decline of 8.6 percent from April 2012 to April 2013. In contrast, the New York market continues to grow.
| State | April 2013 | April 2012 | Difference | % Change |
| New York | 167,872,658 | 156,413,707 | 11,458,951 | 7.3% |
| Pennsylvania | 205,155,406 | 214,149,502 | (8,994,096) | -4.2% |
| New Jersey | 161,685,948 | 188,832,177 | (27,146,229) | -14.4% |
| Connecticut | 97,100,000 | 104,435,102 | (7,335,102) | -7.0% |
| State | April 2013 | April 2012 | Difference | % Change |
| New York | 112,474,681 | 104,797,184 | 7,677,497 | 7.3% |
| Pennsylvania | 112,835,473 | 117,782,226 | (4,946,753) | -4.2% |
| New Jersey | 14,955,950 | 17,466,976 | (2,511,026) | -14.4% |
| Connecticut | 24,300,000 | 26,108,776 | (1,808,776) | -7.0% |
| April 2013 | April 2012 | Difference | % Change |
| 73,835,137 | 68,750,310 | 5,084,827 | 7.4% |
*New York State Gaming Commission Website http://www.gaming.ny.gov/gaming/ *Connecticut Department of Consumer Protection http://www.ct.gov/dcp/cwp/view.asp?a=4107&q=482876 *The Day Connecticut http://www.theday.com/article/20130516/BIZ02/305169595/1044 *New Jersey Casino Control Commission Website http://www.state.nj.us/casinos/financia/ *Pennsylvania Gaming Control Board Website http://gamingcontrolboard.pa.gov/?p=216