Currently Operating NYS Casinos Fall Short on Gaming Tax Projections

A report recently released by the by the NYS Comptroller’s Office (OSC) identifies some benefits of the four casinos currently operating in New York State, such as the additional revenue generated for the state, of which at least some is earmarked for education as well as a portion of the state collected tax revenue going to the local governments where the gaming establishments are located. Awarded licenses in 2015 and 2016, none of the four existing casinos “met their 2019 projected gaming tax distributions in 2019, and only one (Tioga Downs) met it in 2022; but have provided nearly $176 million in local government gaming and taxes from 2017 to 2022. As the state prepares to award three additional licenses that became available following the approval by NYS voters in 2013 of a constitutional amendment authorizing up to seven commercial casinos, the OSC’s report focuses on “the local government impact of and lessons learned from the first four casinos.”