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$3 Billion In Economic Activity

Published: May 15, 2015 8:44 am ET

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The New York Gaming Association (NYGA) has released its 2014 annual report detailing the industry’s growing statewide economic impact and highlighting the stories of a diverse cross-section of individuals who have witnessed the positive contributions of one or more of the state’s nine racetrack casinos.

In 2014, NYGA members generated gross gaming revenue of $1.9 billion, the largest portion or $864 million of which was dedicated to education. Since 2004, NYGA members have produced nearly $5.5 billion for New York schools. NYGA’s nine member properties directly employed nearly 6,000 management and union professionals. When including the racing and breeding industries, construction, and supply chain employment is taken into account that number grows to 30,000 New Yorkers.

“We have become a $3 billion industry that supports 30,000 jobs,” said NYGA President James D. Featherstonhaugh. “From bakeries and dry cleaners to family farms and breeders, many individuals, families and small businesses benefit from the presence of a NYGA facility in their community.”

Individuals providing personal testimonials about NYGA’s positive impact in their community include small business owners, elected officials, and leaders representing organized labour, breeders and veterans.

Other highlights of the 2014 report include:

  • $213 million in support for New York’s racing industry – both Standardbred and Thoroughbred

  • $76 million in tax revenue for state and local governments

  • $51 million in capital investments

  • $26 million for breeding

  • $1.5 million in voluntary charitable giving

The full report can be viewed below.

(NYGA)


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