New York Gaming Association Highlights Benefits of Gambling

Published on Tuesday 19th May 2015, 11:08 am
Posted in: Casino Leisure

Casino Leisure

The New York Gaming Association (NYGA) has announced details of how revenue generated from the state’s gambling industry has benefited local communities. There are nine racetrack casinos in the state and the NYGA’s annual report for 2014 outlines the positive contributions they have made in terms of supporting education, employment, the horse racing industry and various other sectors.

NYGA members raised gross gaming revenue of $1.9 billion in 2014 and $864 million was distributed to education, bumping up the total that has been generated for the state’s schools to $5.5 billion since 2004. There are also 6,000 employees working directly for the NYGA’s nine members and in total it is estimated that 30,000 jobs are supported.

The NYGA distributed more than $238 million to racing and breeding in 2014, while $76 million was given to state and local governments and $51 million was generated in capital investment. Hundreds of charitable organisations have also been supported across the state and NYGA president James Featherstonhaugh is proud of all the work that has been done.

Thanking the NYGA’s members for having such a positive economic impact on the state, Featherstonhaugh said: “Our nine member properties have grown into a $3 billion industry that supports a myriad of local small businesses, from bakeries and dry cleaners to family farms and breeders, that help anchor local economies across the state. This past year, our members generated nearly $900 million for schools, supported 30,000 jobs, and paid more than $76 million in state and local taxes and aid.”

There are also personal testimonies in the report from individuals who have witnessed the NYGA’s good work in the community.  Jeff Cannizzo, the Executive Director of NY Thoroughbred Breeders, said: “The revenue generated at Finger Lakes Racetrack over the years has supported our breeders and farms, along with injecting much-needed revenue and jobs in upstate communities like the Finger Lakes region.”

Related News Articles

Casino Leisure

What is the Dress Code at a Casino?

Visiting traditional offline casinos is becoming more and more popular with every passing year, and the growing number of new venues that are springing up across the UK testifies to that fact.

Monday 18th September 2017, 11:03 am
Casino Leisure

The House Continues Casino Tradition in Hollywood

Today’s UK cinema release of the Will Ferrell comedy movie The House continues a long tradition of films which feature casinos as their theme, setting or plot device.

Friday 30th June 2017, 11:11 am
Casino Leisure

How Online Casino Licensing Keeps You Safe

This week is the Institute of Licensing’s second annual National Licensing Week, which aims to raise awareness of the importance of licensing in various areas of life, including business, tourism and leisure.

Wednesday 21st June 2017, 10:55 am Facebook

You first need to login to Facebook to view this page because it contains age restricted content.

Go to Facebook and Login