By: Haley Viccaro
Casino gaming contributes $3.6 billion to New York’s economy and supports about 14,600 jobs in the state,according to a study conducted by Oxford Economics and released by the American Gaming Association.
The gaming industry also generates $1.3 billion in tax revenues to local, state and federal governments, according to the study. Nationwide, casino gaming is a $240 billion industry that supports 1.7 million jobs and generates $38 billion in taxes.
“This study shows that gaming is driving big results in New York,” said Geoff Freeman, president and CEO of the American Gaming Association. “However, given changing consumer demands and increased competition in the northeast market, our future success depends on strong partnerships with policymakers that allow us to innovate, reinvent and create more jobs.”
The study on casino gaming’s economic impact comes as New York is preparing for up to four new casinos outside of New York City in the Capital Region, Hudson Valley/Catskills region and Southern Tier.