Empire City Casino at Yonkers Raceway has reached a historic $1 billion milestone in contributions to the general fund earmarked to aid education in New York State
, it was announced today by the track's president Timothy J. Rooney.
The total was reached this past weekend, almost four years to the date (October 11, 2006) of the casino opening, making the average contribution $250 million annually. The property exceeded over $400 million in estimated contributions over the last 12 months.
Additionally, since the opening of Empire City Casino, the City of Yonkers has received an amount estimated at $50 million annually from the casino and the state lottery.
“When Assemblyman Mike Spano initiated the call for video lottery terminals in New York State in the late 1990s, who would have thought that the revenue for education would reach the amazing total of $1 billion in four short years?” general manager Bob Galterio said. “The operation of the casino has certainly had a significant and positive impact on the revenues and budget of New York State."
"Just a few years ago, a big 'for sale" sign was on the raceway," Assemblyman Spano (D,C,WF-Yonkers) said. "Standing here today in recognition of the $1 billion provided by the raceway for our children's education is a testament to the success the raceway has brought to our state and to the city of Yonkers.
"On top of the billion dollars provided for our state's education system, the raceway has become Yonkers' largest employer and continues to provide our city with over $20 million in additional revenue annually that goes directly into our classrooms. I am proud to have the state's most successful raceway right here in Yonkers and look forward to the future success the Casino brings to our city and New York State."
(Yonkers Raceway)