Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
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Source: Delaware <strong>Gaming</strong> Control Board; The Innovation Group<br />
New York<br />
The New York market consists of 8 Indian casinos, 8 racinos, and 3 horse tracks. The racino<br />
industry has grown from a $192 million in 2004 to over $1 billion in 2010. During that time, the<br />
number of machines has more than tripled and win per machine has increased more than $100 to<br />
$240 per unit. This market has grown substantially over the past six years, thanks in large part to<br />
Yonkers Raceway, which has made up more than half of the state’s revenue since 2008. The<br />
first four months of 2011 has seen the state has had an increase in revenue of nearly 9% over<br />
2010, while only having an increase in number of machines of .5%. The table below shows New<br />
York’s statewide gaming performance since 2004.<br />
New York State <strong>Gaming</strong> Performance<br />
Year Revenues % Change Units % Change Win/Unit % Change<br />
2004 $192,447,498<br />
The Innovation Group Project #054-11 August 2011 Page 60<br />
4,092<br />
$128.85<br />
2005 $294,994,056 53.3% 5,408 32.2% $149.45 16.0%<br />
2006 $426,305,441 44.5% 6,650 23.0% $175.64 17.5%<br />
2007 $828,205,000 94.3% 12,653 90.3% $179.33 2.1%<br />
2008 $947,275,377 14.4% 12,961 2.4% $200.23 11.7%<br />
2009 $1,019,279,108 7.6% 12,785 -1.4% $218.43 9.1%<br />
2010 $1,089,049,283 6.8% 12,462 -2.5% $239.43 9.6%<br />
Jan-Apr 2011 $386,554,519 8.8% 12,519 0.5% $257.55 8.3%<br />
Source: New York Lottery<br />
The Innovation Group focused on Yonkers, Aqueduct, Tioga Downs and Seneca Allegany due to<br />
their proximity to <strong>Pennsylvania</strong> and their potential to draw <strong>Pennsylvania</strong> residents.<br />
Yonkers<br />
Empire City at Yonkers Raceway is home to the only current VLT facility in the New York<br />
metro area market, lying within 30 minutes of downtown Manhattan. Yonkers offers live<br />
harness racing throughout the year, with abbreviated schedules during the winter months, and<br />
racing six days a week during the summer months. In addition to its gaming facilities, Empire<br />
City Casino offers 3 restaurants, 2 bars, and an entertainment lounge with live music, comedy,<br />
and karaoke. The facility also offers a bus program to transport customers from Brooklyn, Long<br />
Island & Queens, Manhattan, and Northern New Jersey. The VLT facility currently offers 5,300<br />
gaming devices, averaging approximately $300 in win per device during 2010 driving revenues<br />
of $582 million. Since opening in October 2006, Yonkers has seen annual increase in revenue<br />
each year. It has also more than doubled its slot offering since inception. In the first four<br />
months of 2011, Yonkers has increased revenue by 10% over 2010 without making any change<br />
to the number of machines offered. The table below shows Yonkers gaming performance since<br />
2006.