New York Sees 6.2% Increase in Tax Contributions over July 2012
(Albany, NY) The New York Gaming Association reported today that July gross gaming revenue from its nine members was $166,258,506 with $111,743,723 of tax revenue going to the State.
That amount was 5.4% higher than revenue generated in July 2012 when revenue hit $157,767,792. Taxes generated by NYGA members for the State in July of 2012 totaled $105,265,074. One year later, NYGA members increased that number by 6.2%.
For the month of July, nearly $75 million went to education; over $20 million went to the racing and breeding industry and more than $16 million to support the lottery’s video gaming operations.
July Totals
| New York | Jul-13 | Jul-12 | Difference | % Change |
|---|---|---|---|---|
| Gross Gaming Revenue | 166,258,506 | 157,767,792 | 8,490,714 | 5.4% |
| Total Tax | 111,743,723 | 105,265,074 | 6,478,649 | 6.2% |
July NYS Distributions
| Distribution | Jul-13 | Jul-12 | Difference | % Change |
|---|---|---|---|---|
| Education | 74,938,362 | 71,022,542 | 3,915,820 | 5.5% |
| Racing and Breeding | 20,179,510 | 18,465,753 | 1,713,757 | 9.3% |
| VLT Lottery Program | 16,625,851 | 15,776,779 | 849,072 | 5.4% |
To date in 2013, NYGA members have generated over $520 million for education and over $138 million for the racing and breeding industry.