New York Lottery hits revenue record
The state lottery reported billionaire revenues during 2016.
US.- New York’s lottery reached a record of US$9.8 billion in 2016, a significant growth from 2015, when it reported US$441 million less than last year. USA Today’s Albany Bureau released the results of the biggest lottery in the country.
According to the bureau, the revenue comes from the state lottery and since racetracks with video lottery terminals (VLTs), which increased 5 percent from 2015 to 2016. The entity believes that the increase was influenced by a billionaire jackpot from 2016, along with gains in instant lottery games: half of the racinos reported growth. Empire City, from Yonkers Raceway, expanded its net win 6 percent during 2016 to almost US$600 million. The track’s general counsel, Timothy Rooney Jr., said: “Empire City is proud of our growth but takes nothing for granted.” The Powerball jackpot also expanded 77 percent in 2016, with incomes of US$537 million.
According to the American Gaming Association’s annual survey of the casino industry, if New York achieves further incomes than Nevada, the State known better for its casino hub, Las Vegas, would be in the third place of the tax revenue ranking from the casino industry. The first place is seemingly occupied by Pennsylvania, with US$1.38 billion in tax revenue, nearly US$500 million more than Nevada’s results.
