NEW YORK GAMING ASSOCIATION

Transcription

NEW YORK GAMING ASSOCIATION
2015 ANNUAL REPORT
TABLE OF CONTENTS
MESSAGE FROM THE PRESIDENT�� 4
OUR 9 MEMBERS ��6
FINGER LAKES GAMING & RACETRACK $3 BILLION IMPACT��8
HAMBURG GAMING AT BUFFALO RACEWAY 27,000 TOTAL JOBS��10
RESORTS WORLD CASINO NEW YORK CITY $888 MILLION FOR EDUCATION�� 12
EMPIRE CITY CASINO AT YONKERS RACEWAY $218 MILLION IN RACING SUPPORT�� 14
BATAVIA DOWNS $27 MILLION FOR BREEDING �� 16
TIOGA DOWNS CASINO 5,100 DIRECT EMPLOYEES�� 18
SARATOGA CASINO AND RACEWAY $39 MILLION IN CAPITAL INVESTMENTS�� 20
MONTICELLO CASINO & RACEWAY $77 MILLION IN AID FOR STATE AND LOCAL GOVERNMENTS �� 22
VERNON DOWNS CASINO & HOTEL $2 MILLION IN CHARITABLE GIVING �� 24
2015 DISTRIBUTION OF GROSS GAMING REVENUE��26
STATEWIDE ECONOMIC IMPACT��27
EDUCATION REVENUE��28
IMPACT ON CAPITAL INVESTMENT ��29
TAXES PAID BY NYGA MEMBERS�� 30
IMPACT ON STATE AND LOCAL REVENUES�� 31
ECONOMIC IMPACT OF RACING AND BREEDING��32
PROMOTING RESPONSIBLE GAMING�� 34
NEW YORK GAMING ASSOCIATION: 2015 ANNUAL REPORT
3
MESSAGE FROM THE PRESIDENT
BOARD OF DIRECTORS
Michael Speller
Timothy Rooney, Jr.
Daniel Gerrity
Rajat Shah
Brian Hansberry
Charles Degliomini
Jeffrey Gural
Thomas Osiecki
Michael Kane
OFFICERS
James Featherstonhaugh, President
Timothy Rooney, Jr., Vice President
Rajat Shah, Secretary
Ryan Eller, Treasurer
Michael Wilton, Executive Director
Welcome to the New York Gaming Association’s (NYGA) 2015 Annual Report. Our
nine member facilities, located in every region of the state, have a $3 billion economic
impact, support 27,000 jobs and provide critical and substantial support for our
schools, local governments, racing and breeding industries, construction industry and
charitable organizations.
This past year marked several notable milestones for New York state’s gaming industry.
Despite saturation concerns, our members’ facilities continue to outperform our competitors
in the Northeast regional market. 2015 witnessed major groundbreakings for NYGA
members including two new hotels at Batavia Downs Gaming as well as Saratoga Casino and
Raceway. Empire Resort’s Montreign Resort Casino project was granted a gaming license
from the New York Gaming Facility Location Board. Tioga Downs was recommended for a
license, but it is awaiting the final approvals before being granted a license. And for the first
time ever, NYGA members’ revenue in support of our schools exceeded $888 million.
We hope this report helps bring to light the many positive impacts NYGA members have
on the economic health and well‑being of our host communities. As we enter 2016, we look
forward to continuing our successful partnership with the state.
James Featherstonhaugh
President, New York Gaming Association
4
BUFFALO
SYRACUSE
ALBANY
NEW YORK CITY
5
OUR 9 MEMBERS
esorts World Casino New York City is owned by the Genting Group, the world’s largest
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destination casino resort operator. The Genting Group has a combined market capitalization
of $40 billion and employs more than 50,000 people worldwide at locations including
Singapore, London and, soon, Las Vegas. Located at the historic Aqueduct Racetrack,
Resorts World Casino New York City opened in October 2011 and now boasts more than
5,000 slot and table game machines.
onkers Raceway was founded in 1899, with famous thoroughbreds including Seabiscuit
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gracing the track over the years. The fabled Rooney family acquired Yonkers Raceway in
1972 and opened Empire City Casino in October 2006, adding to their East Coast gaming
operations. The facility now offers 5,300 slot and table game machines, live entertainment
and trackside dining.
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wned by Nichols, NY-based American Racing and Entertainment, LLC, and located in
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the heart of the Southern Tier, Tioga Downs Casino offers live entertainment and dining in
addition to gaming. The track first opened in the 1970s and reopened in 2006. Since Tioga
Downs Casino opened its doors in July 2006, it has grown to include more than 800 slot
and table game machines.
ernon Downs Casino & Hotel, also owned by American Racing and Entertainment, LLC,
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opened in October 2006 and now has 760 slot and table game machines. Set in idyllic
farm country, the hotel’s 150 suites feature trackside rooms with stunning views. A recent
facilities expansion resulted in the creation of a 15,000-square-foot banquet room that
includes an outdoor rooftop terrace overlooking the racetrack and surrounding countryside.
atavia Downs is the oldest lighted harness track in North America, opening in 1940. Owned and operated
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by Western Regional Off Track Betting Corporation, Batavia Downs opened its gaming facility doors in May
2005 and offers more than 785 gaming machines to choose from. The facility also includes three great
restaurants for patrons.
anaged by Delaware North Companies, Hamburg Gaming at Buffalo Raceway traces its origins as a harness
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racing track to 1942. Located on the Erie County Fairgrounds, it opened in March 2004 and has 940 video
gaming machines. Buffalo Raceway became a harness racing fixture with the start of the 1960s and was
considered one of the top ten tracks in America. The New York Sires Stakes, a series of statewide races for
two- and three-year-old New York-bred horses, made their debut at the raceway in 1961. This stakes series
remains a part of the current raceway program.
onticello Casino & Raceway is owned by Empire Resorts, a publicly traded gaming and entertainment
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company. The track has hosted harness racing since 1958, and the casino opened its doors in June 2004.
The facility boasts more than 1,100 slots and has already hosted more than 5.5 million visitors. In January
2013, the town of Thompson approved a multiphase development plan that would see Monticello Casino &
Raceway move to the famed Concord Resort site in the Catskills.
aratoga Casino and Raceway traces its history back to 1941, when the first harness racing program was
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run. In January 2004, Saratoga Casino and Raceway became the first of NYGA’s members to open its doors
and now boasts more than 1,800 slot and table game machines. The company owns and operates a casino
in Colorado and a racetrack in Kentucky. Recently, Saratoga formed a partnership with Churchill Downs
Incorporated.
F inger Lakes Gaming & Racetrack is owned by Delaware North Companies, a Buffalo, NY-based global leader
in hospitality and food service. Owned by the Jacobs family, Delaware North is one of the largest privately
owned corporations in America with more than $2 billion in annual revenue and 55,000 employees. Delaware
North operates gaming and racing facilities in six other states across the country. Opened in February 2004,
the facility has nearly 1,550 video gaming machines.
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$3 BILLION IMPACT
NYGA’s facilities have a combined annual economic impact
of $3 billion.
8
493
$175 MILLION
$60 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“The good-paying jobs with generous benefits that Finger
Lakes Racetrack provides has a ripple effect on our local
economy, ensuring a brighter future for all our families.”
OPENED 2004, RACING 1962
– Steve George,
Business Representative,
Rochester Regional Workers United
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27,000 TOTAL JOBS
NYGA facilities’ economic activity supports more than 27,000 jobs.
10
273
$70 MILLION
$23 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“As a small, local, family-owned business, our partnership
with Hamburg Gaming allows us to provide jobs for our
employees and to continue to grow our business.”
GAMING OPENED 2004, RACETRACK 1942
– John Philip Tarantino, Jr., President,
Tarantino Foods, LLC
11
$888 MILLION
FOR EDUCATION
In 2015, NYGA members generated more than $888 million for education,
bringing the total since 2004 to nearly $6.4 billion.
12
1,100
$1.2 BILLION
$366 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“New York state has a constitutional obligation to educate
every child. New York’s gaming revenues provide an
important portion of the funds our schools need.”
OPENED 2011
– Billy Easton,
Executive Director, Alliance for
Quality Education
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$218 MILLION
IN RACING SUPPORT
NYGA members have generated $1.5 billion in support of New York’s Standardbred and
Thoroughbred racing industries, including nearly $218 million in 2015.
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1,204
$825 MILLION
$282 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“New York’s racing, horse breeding and agriculture industries
have experienced a renaissance as a result of the state’s racingbased VLT initiative and the SOA’s partnerships with Empire City/
Yonkers Raceway—on innovative programs such as international
simulcasting. In order to keep our industry generating thousands
of jobs and positive economic impacts, we must continue to
support and invest in New York state racing.”
CASINO OPENED 2006, RACEWAY 1972
Joe Faraldo,
President, Standardbred Owners of
New York
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$27 MILLION FOR
BREEDING
Since 2004, NYGA members have generated over $174 million in support of the breeding industry
and agricultural related businesses such as family farms, feed producers and veterinarians.
16
253
$83 MILLION
$22 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“Revenue generated by Batavia Downs provides critical
support for breeding. This funding helps farms and
breeders maintain their operations and provide horses
to the racing industry.”
OPENED 2005, RACING 1940
– Dan Phillips,
Genesee Valley Farm
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5,100 DIRECT
EMPLOYEES
More than 5,100 employees, composed of union and management professionals,
are directly employed by NYGA member facilities.
18
452
$103 MILLION
$22 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“I grew up just down the road and, upon graduating,
was lucky enough to get an internship at Tioga Downs.
Through a series of promotions, I’m now the marketing
promotions and entertainment coordinator. At Tioga
Downs Casino, I have been given the chance to grow as
a professional and live in the area that I call home.”
CASINO OPENED 2006, RACING 1970S
– Alison Meyer, Tioga Downs
Marketing Promotions and
Entertainment Coordinator
19
$39 MILLION IN CAPITAL
INVESTMENTS
Since building their original facilities, NYGA members have made capital improvements
that exceed $1.5 billion.
20
561
$244 MILLION
$78 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“Construction on Saratoga Casino and Raceway’s new
multimillion-dollar hotel is helping local construction
workers provide for their families now while paving the
way for long-term jobs down the road.”
CASINO OPENED 2004, RACEWAY 1941
– Jeff Stark, President,
Greater Capital Region Building and
Construction Trades
21
$77 MILLION IN AID FOR ST
AND LOCAL GOVERNMENTS
State and local governments have generated over $304 million
from NYGA members since 2007.
22
TATE
S
271
$124 MILLION
$23 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“The significant and much-needed tax revenue and aid
that Monticello Casino & Raceway generates helps fund
a broad range of services for the town of Thompson.
This reliable revenue stream also allows us to maintain
a balanced budget, meet the tax cap and afford some
property tax relief for our hardworking taxpayers.”
CASINO OPENED 2004, RACING 1958
– William J. Rieber, Jr.,
Supervisor, Town of Thompson
23
$2 MILLION IN
CHARITABLE GIVING
A broad range of organizations and causes have received more than $9 million in
charitable contributions from NYGA members since 2012.
24
486
$79 MILLION
$14 MILLION
EMPLOYEES
ECONOMIC IMPACT
EDUCATION FUNDING
“Vernon Downs’ generous, recurring contributions
to our food bank have helped feed hundreds of
local families in need.”
CASINO OPENED 2006, RACING 1953
– Kathleen Stress,
Executive Director, Food Bank
of Central New York
25
2015 DISTRIBUTION OF GROSS GAMING REVENUE
CAPITAL INVESTMENT
$182,113,343
9
%
OPERATIONS
$440,409,802
EDUCATION CONTRIBUTION
23
RACING & BREEDING
$244,969,743
%
13
45
%
%
10
%
LOTTERY ADMIN & GAMING
$195,096,390
26
$888,374,609
STATEWIDE ECONOMIC IMPACT
NYGA Member
Operations
Jobs
Wages
Output*
Direct employment
5,093
$180,469.4
$180,469.4
Purchasing and construction
1,052
$80,449.3
$201,153.3
Indirect and induced effects
1,877
$116,365.2
$315,111.2
8,022
$377,283.9
$696,733.9
Direct impact
315
$15,490.0
$43,869.6
185
$12,584.8
$33,891.3
500
$28,074.8
$77,760.9
Direct impact
3,540
$247,564.9
$244,969.7
1,658
$99,279.7
$243,312.6
Subtotal
5,198
$346,844.6
$488,282.3
Direct impact
7,638
$775,710.7
$888,374.6
3,449
$198,377.3
$540,709.1
11,087
$974,088
$1,429,083.7
1,267
$46,126.2
$107,437.3
439
$28,182.7
$75,164.9
1,706
$74,308.9
$182,602.2
26,514
$1,800,600.1
$2,874,463.0
Subtotal
State Lottery Division
Contracts
Subtotal
Support for Racing
and Breeding
Revenue for Education
Subtotal
Out-of-State-Visitor
Spending
Direct impact
Subtotal
Total
Total Economic
Impact of NYGA
Members in
New York State,
CY 2015
(jobs in FTEs; wages
and output in $000s)
*Output includes wages,
salaries and benefits, and
the purchase of goods and
services.
27
EDUCATION REVENUE
Revenue for Education,
CY 2004-CY 2015
(in millions)
$1000
$900
$ 823
$ 878 $ 864 $ 888
$800
$700
$ 594
$600
$ 450 $ 446 $ 456
$500
$ 503
$400
$300
$ 219
$200
$ 117
$ 156
$100
$0
28
2004
2005 2006 2007 2008 2009 2010
2011
2012
2013
2014
2015
IMPACT ON CAPITAL INVESTMENT
Construction
Spending
Jobs
Wages
Output*
Direct impact
176
$13,973.7
$31,688.4
Indirect and induced impact
113
$7,253.7
$19,521.6
289
$21,227.4
$51,210.0
Direct Impact
Indirect/Induced
Total
$663.2
$344.3
$1,007.5
$1,199.2
$167.3
$1,366.5
$1,862.4
$511.6
$2,374.0
Total
State and Local
Taxes
Income tax
Sales tax
Total
Economic Impact
of Construction
Spending at
Racetrack Gaming
Facilities,
CY 2015 (jobs in FTEs;
wages and output in
$000s)
*Output includes wages,
salaries and benefits, and
the purchase of goods and
services.
29
TAXES PAID BY NYGA MEMBERS
NYGA members pay an effective tax rate of approximately 68% on gaming revenue.
Effective NYS Tax Rates
(mandated payments as a
percent of gross gaming
revenues) by NYGA Member,
CY 2015 (in $000s)
Gross
Gaming
Revenue
Education
Contribution
Lottery
Admin and
Gaming
Support for
Racing and
Breeding
Resorts World
$831,223
$365,738
$83,122
$132,996
$581,856
70%
Empire City
$558,288
$282,227
$55,829
$55,829
$393,884
71%
Saratoga
$160,919
$77,569
$16,092
$16,092
$109,753
68%
Finger Lakes
$127,357
$59,905
$12,736
$12,736
$85,376
67%
Monticello
$59,326
$23,137
$5,933
$5,933
$35,003
59%
Hamburg
$65,227
$22,858
$6,523
$6,523
$35,903
55%
Tioga Downs
$57,008
$21,722
$5,701
$5,701
$33,124
58%
Vernon Downs
$39,060
$13,671
$3,906
$3,906
$21,483
55%
Batavia Downs
$52,557
$21,548
$5,256
$5,256
$32,060
61%
$1,950,965
$888,375
$195,098
$244,972
$1,328,442
68%
Total
New York and Neighboring
States Tax Rates
30
Jurisdiction
Total
Mandated Effective
Contribution Tax Rate
Table Tax
Slot Tax
New York Tribal
0%
25%
Connecticut Tribal
0%
25%
New Jersey
9%
9%
New York Commercial
10%
37-45%
Pennsylvania
14%
55%
Massachusetts Resort Casino
25%
25%
IMPACT ON STATE AND LOCAL REVENUES
STATE
Direct Impact
Indirect/Induced
Total
Education revenue
$888,374.6
–
$888,374.6
Lottery administration
& gaming operations
$195,096.4
–
$195,096.4
State income tax
$9,208.2
$22,153.5
$31,361.7
State sales tax
$4,276.9
$6,265.0
$10,541.9
State corporate tax
$1,152.4
$2,383.7
$3,536.1
Pari-mutuel tax
$2,776.2
–
$2,776.2
$1,774.1
–
$1,774.1
$1,102,658.8
$30,802.2
$1,133,461.0
$29,331.2
–
$29,331.2
Local income tax
$1,799.3
$3,375.2
$5,174.5
Local sales tax
$4,293.2
$6,087.3
$10,380.5
Real property tax
$20,360.9
–
$20,360.9
Water/sewer fees
$1,375.3
–
$1,375.3
$614.9
$1,039.7
$1,654.6
$57,774.8
$10,502.2
$68,277.0
$1,160,443.7
$41,304.4
$1,201,738.1
Unemployment insurance taxes
Subtotal
LOCAL
Aid to municipalities
Other local taxes, fees & payments
to municipalities
Subtotal
Total
Economic Impact of
Racetrack Gaming
Facilities on State
and Local Revenues,
CY 2015
31
RACING AND BREEDING SUPPORT
Economic Impact of
Racing and Breeding,
CY 2015 (jobs in FTEs; wages
and output in $000s)
Support for Racing and Breeding
Jobs
Wages
Output*
Direct impact
3,540
$247,564.9
$244,969.7
Indirect and induced impact
1,658
$99,279.7
$243,312.6
5,198 $346,844.6
$488,282.3
Total
*Output includes wages, salaries and benefits, and the purchase of goods and services.
Percent Distribution of
Total Support to Racing/
Breeding/NYRA,
CY 2015 (in $000s)
% Distribution
2015 Support
Standardbred purses
8.75%
$86,833.7
Standardbred breeding fund
1.25%
$12,404.8
Finger Lakes thoroughbred purses
8.75%
$11,143.7
Thoroughbred breeding fund
1.25%
$1,592.0
NYRA thoroughbred purses
7.50%
$62,341.7
Thoroughbred breeding fund
1.50%
$12,468.3
NYRA operations fund
3.00%
$24,936.7
NYRA capital expenditure fund
4.00%
$33,248.9
Subtotal, purses
$160,319.1
Subtotal, breeding
$26,465.1
Subtotal, NYRA operations and capital expenditures
$58,185.6
Total Racing and Breeding Support
32
$244,969.8
$300
$ 245
$ 235 $ 238
$250
History of Racing
and Breeding Support,
CY 2004-CY 2015
(in millions)
$ 211
$200
$150
$ 130
$100
$ 83
$50
$ 19
$ 30
$ 95
$ 102 $ 109
$ 43
$0
2004
2005
2006
2007
2008 2009
2010
2011
2012
2013
2014
2015
33
PROMOTING RESPONSIBLE GAMING
The New York Gaming Association is a member of the National Council on Problem Gambling. In
addition, NYGA has worked with the NY Council on Problem Gambling to establish industry-wide
programs and standards to address problem gambling and enhance programs already in place that
provide referral information to resources in New York state for problem gamblers, including the state’s
24-hour hotline. Each facility has its own voluntary self-exclusion programs that are open to anyone who
feels it is necessary. Further assistance is available from the Office of Alcoholism and Substance Abuse
Services, which can be reached at 1-877-8-HOPENY or by visiting www.oasas.ny.gov.
The association and its members are active and committed to working with the state and other service
providers to ensure that assistance for problem gamblers is readily available to any and all individuals
who require it.
For more information about problem gambling and the resources
available to help, please visit KnowTheOdds.org.
34
If you or someone you know has
a gambling problem, call
1-877-8-HOPENY
New York Gaming Association
99 Pine Street, Suite 210
Albany, New York 12207
(518) 436-1122
www.newyorkgaming.org

NEW YORK GAMING ASSOCIATION

Transcription

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