Local governments did benefit, however, despite the shortfall in collections. The only exception was Tioga Downs in the Southern Tier.
These revenues and tax contributions have continued to lag three years later, only reaching 50-60% of expectations, DiNapoli says. They are not a sure bet.”Īccording to DiNaopli's 2020 report, all four of the state's current casinos - del Lago Resort and Casino in Tyre, Rivers Casino and Resort in Schenectady, Resorts World Catskills in Thompson and Tioga Downs Casino in Nichols - fell short of the projected gross revenue on which local taxes are levied. It’s my hope that this report gives state and local officials a clearer perspective that can help potential host communities avoid the pitfalls that arise with misguided expectations about the public benefits of casinos. “While casinos have generated local gaming tax revenue, the impacts vary for the communities that receive such revenues. “Casinos are not a magic fix that will solve local fiscal challenges,” DiNapoli said. However, only the three smaller towns that host the casinos saw a significant financial benefit from that money. A new report from New York Comptroller Thomas DiNapoli shows the state's four licensed casinos have brought in $176 million in gaming tax revenue for local governments from 2017 to 2022.
