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Finger Lakes Casino & Racetrack
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First Annual New York Gaming Association Report Highlights Impact for NY in 2012
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Finger Lakes Generates Over $129 Million in Gross Gaming Revenue in 2012; Over $61.5 Million to Education
First Annual New York Gaming Association Report Highlights Impact for NY in 2012
Farmington, NY – May 2013 / Hospitality 1ST / Released earlier this week, the first annual New York Gaming Association (NYGA) report, highlights the revenue NYGA’s nine racetrack casinos generated for New York State in 2012, including $823 million for education, a $1.7 billion impact on the state economy and supported more than 17,000 jobs statewide. The report demonstrates how New York’s current gaming model is the envy of the Northeast, if not the nation, a fact that is increasingly confirmed by monthly revenue totals that show Finger Lakes Casino & Racetrack (FLCR) and other NYGA member locations growing, while others continue to shrink.

FLCR is no exception. Education funding from FLCR has steadily increased year-to-year since video lottery terminals began operating in 2004. In the 9 years since, FLCR has generated over $451 millionin total for education, including $61.6 million in 2012. FLCR also directly employed nearly 500 in 2012, with that number projected to increase to 575 later this year upon opening of a $12 million expansion.

“We firmly believe the current gaming model in New York has proven over time to be a model public-private partnership,” said FLCR president and general manager Chris Riegle. “Our continued year-over-year growth in funding education, providing jobs and contributing to local tax bases is a testament to its success.”

“It goes beyond the numbers. Our members have a special commitment to the communities in which they operate,” said NYGA President James D. Featherstonhaugh. “The most important facet of the New York gaming model is that it is by, for and about New Yorkers. And as this report shows, our nine existing facilities are tremendous economic assets that should be nurtured and developed.”

The full report can be found at newyorkgaming.org/Home.aspx.

Statewide, NYGA members have generated $3.8 billion in total revenue for education since 2004, including $823 million in 2012. At an average salary of $67,991, the 2012 total would fund 12,100 teachers in New York. Furthermore, the indirect economic impact of funding these teaching positions is in excess of $629 million – bringing the total economic impact of NYGA’s education funding to $1.4 billion in 2012 alone.

NYGA’s nine racetrack casino’s also directly employed nearly 6,000 New Yorkers in 2012, with compensation exceeding $160 million. Taking into account the impact of purchasing, construction, support for the racing industry, out-of-state visitor spending and other factors, in 2012, NYGA was responsible for more than 17,000 jobs and nearly $1.7 billion in economic impact.

Finally, NYGA’s members also contributed heavily to charitable organizations throughout 2012. More than $3.1 million was contributed to organizations in the home communities of the nine racetrack casinos, including more than $1 million to the Red Cross, Catholic Charities and other relief organizations following Hurricane Sandy.

New York’s effective tax rate on slot and electronic table game machines is 67 percent, one of the highest in the nation. Approximately 45 percent is dedicated to education with the remainder allocated to lottery operations, capital investments and the racing and breeding industries.

While the annual report only covers 2012, FLCR’s success has continued well into 2013. Earlier this month, FLCR announced that the 2012-2013 fiscal year – which concluded on April 1 – was historic for FLCR and New York’s gaming industry as a whole, including record revenue generation for education and agribusiness. FLCR generated gross gaming revenues of $129 million – an increase of 3.6 percent over the previous fiscal year – driving record funding to classrooms, agribusiness and local governments. All nine of NYGA’s nine racetrack casinos generated gross gaming revenues of $1.83 billion – a 22 percent increase over the previous fiscal year. Additionally, an all-time record high of $83.5 million was generated for education in March 2013 by NYGA members, a 7 percent increase over the previous March.

About Finger Lakes Casino & Racetrack
In operation since 1962, the facility added gaming to its offering in 2004 with a $10.5 million expansion. Nearly two million visitors annually now visit the facility highlighted by nearly 1,200 gaming machines, the 448-seat Vineyard Buffet, as well as live and simulcast thoroughbred racing. A nearly 33,000 square foot expansion featuring additional gaming space, feature bar and new restaurant is currently under construction and slated to open November 2013. Casino doors open at 8 a.m. and racing doors open at 11:30 a.m. daily. For more information, visit www.FingerLakesCasino.com.

About New York Gaming Association
NYGA’s nine racetrack casinos employ 6,000 New Yorkers, have generated $3.8 billion for education, $170 million for local governments and $839 million in support for the racing industry including family farms, horsemen, breeders and other contributors to the state’s rural economy who preserve open space. For more information visit www.newyorkgaming.org. Member racetrack casinos include: Resorts World Casino New York at Aqueduct Racetrack, Monticello Casino & Raceway, Hamburg Casino at the Fairgrounds, Empire City Casino at Yonkers Raceway, Batavia Downs Casino, Tioga Downs Casino, Saratoga Casino & Raceway, Vernon Downs Casino & Hotel, and Finger Lakes Casino & Racetrack.

About Delaware North Companies
Delaware North Companies is one of the largest and most admired privately held hospitality companies in the world. Founded and owned by the Jacobs family for nearly 100 years, it is a global leader in hospitality and food service. Its family of companies includes Delaware North Companies Parks & Resorts, Delaware North Companies Gaming & Entertainment, Delaware North Companies Travel Hospitality Services, Delaware North Companies Sportservice, Delaware North Companies International and Delaware North Companies Boston, owner of TD Garden. Delaware North Companies has revenue exceeding $2.6 billion annually and 55,000 associates serving half a billion customers in the United States, Canada, the United Kingdom, Australia and New Zealand. For more information, visit www.DelawareNorth.com.

Contact:
Shannon Kingston
Marketing Specialist
Finger Lakes Casino & Racetrack (FLCR)
Phone: 585-924-3232

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Delaware North Companies
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Placement Dates: 05/02/13 – 07/02/13
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