New York Post
Ka-ching!
New York has hit the jackpot with the stream of cash rolling in from the state’s nine racinos, including the new gambling parlor at Aqueduct Racetrack, according to a report released yesterday.
The network of racinos generated about $2 billion in economic activity last year and pumped $1billion in revenues into the state’s coffers, including $830 million for education, says the analysis commissioned by the New York Gaming Association.
Those figures do not include revenues from upstate tribal casinos.
“The nine racetrack casinos that comprise the New York Gaming Association have a proven track record in creating jobs, bolstering funding for education, supporting the racing and breeding industry, and assisting local governments,” said group President James Featherstonhaugh.
The racinos directly employ 5,431 employees. But its revenues contribute to a total of 17,400 jobs, the analysis conducted by the consulting firm Appleseed indicates. A portion of the revenues also subsidizes the horse-racing industry.