RECORD FISCAL YEAR BENEFITS SCHOOLS, TAX-PAYERS AND FARMERS
4/11/2013 2:53:41 PM
Funding Benefitting Local Schools, Taxpayers and Farmers on the Rise
(Saratoga Springs, NY)- Saratoga Casino and Raceway today announced record revenue for the state fiscal year ending March 31, including important growth in funding for education, agribusiness and local governments. The casino reported gross gaming revenues of $159 million, an increase of two percent over the previous fiscal year.
"Thanks to the continued support of our patrons and community, we are proud to announce another year of growth for Saratoga Casino and Raceway," said Jamie Hartman, Executive Vice President and Chief Operating Officer. "But the real winners are the students, taxpayers and farmers who benefit from the revenue we generate."
More than $76 million was generated for education during this period, also a two percent increase over the prior year. This was the highest funding produced for education by Saratoga Casino and Raceway since opening in January of 2004 as the first video lottery facility in New York.
During fiscal year 2012-13, Saratoga Casino and Raceway produced $2 million for local governments including $500,000 for Saratoga County and $1.5 million for Saratoga Springs.
The property also generated $16 million for the racing industry over the year. This funding supports family farms, breeders, feed producers, horsemen, veterinarians and other industry jobs, all of which are significant contributors to the rural economy especially upstate.
"Saratoga Casino and Raceway has grown in each of our nine years of operation, proving to be a highly successful public-private partnership with the state," said Hartman. "We look forward to another successful year making a positive contribution to our community."
GGR % Change Y/o/Y Tax Rate State Revenue
Casino Name 158,697,772 +2% 68% 107,914,485
Education Racing & Breeding Lottery Administration Local Government
76,435,864 15,869,777 15,869,777 1,995,000
*New York State Gaming Commission Website http://www.gaming.ny.gov/gaming/