Good Year for NY Racinos, Lottery

All but one of New York’s nine racinos posted revenue gains during 2015, leading to a record $9.4 billion in revenues. The state’s lottery also reported a significant gain, as more people participate in its PowerBall and other lottery offerings, but the traditional Mega Millions game posted a 16 percent decline.

The nine racinos in New York mostly posted good numbers for 2015, as revenue for video-lottery parlors increased by 2.8 percent for the year, according to the New York Gaming Commission.

 Lottery games at and video-lottery parlors generated $9.4 billion in 2015, which was 3.6 percent more than a year earlier. The $9.4 billion is a single-year record.

Of the nine racinos in New York, most reported revenue gains of between 2 percent and more than 7 percent. Resorts World in Queens generated the most income among the state’s racinos and reported net earnings of $831 million, followed by $537 million at Empire City at Yonkers Raceway.

Only Vernon Downs in Oneida County reported a decrease in revenues. The reduction was attributed to the opening of the Yellow Brick Road casino near Syracuse, which the Oneida Indian Nation owns.

Traditional lottery sales also increased by $274 million and 3.8 percent last year, as PowerBall sales grew by 7.4 percent and QuickDraw by 11 percent.

New York’s Mega Millions lottery, however, reported a 16 percent decline in revenues, as more people switched to PowerBall and other lottery games.

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