Saratoga Casino Hotel Contributes One Billion Dollars to New York State Education
SARATOGA SPRINGS – Saratoga Casino Hotel has reached a monumental achievement in the history of the 77 year-old property. Since expanding their historical harness track into New York State’s debut VLT facility in January of 2004, the casino has contributed one billion dollars to New York State Education. The milestone was officially met on Saturday, October 6.
On average, Saratoga Casino Hotel contributes 48% of their total gaming revenues to New York State Education on a weekly basis. The funds are allocated to the New York State Education Fund where they are then dispersed across the region and state accordingly. Of the 9 gaming facilities who are members of the New York State Gaming Association, Saratoga Casino Hotel is just the third property to surpass the billion dollar threshold for education contributions.
“Since opening the doors to our casino in 2004, we’ve worked diligently to develop an historic harness track into a strong entertainment destination for our region and New York State,” said Daniel Gerrity, President of Saratoga Casino Hotel. “This is something we’re very proud of, and we could not have achieved this without the commitment of our team members, unions and trades staff.”
Numerous capital improvements and property expansions throughout the casino’s 14 years have led to consistent employment growth and development – the most significant of which came in 2016 with the addition of the casino’s 117-room hotel and Morton’s® The Steakhouse. Prior to the casino, Saratoga Harness Racing Inc. consisted of just 35 full time employees and 100 seasonal team members with a $1.8 Million annual payroll in 2003. Today, Saratoga Casino Hotel employs 620 with an annual payroll that exceeds $22 Million. In addition, there are over 200 others employed on the race backstretch as a direct impact of harness racing in Saratoga.
“We’re very grateful for the employment opportunities and financial support that have been provided to Saratoga County and the state as a direct result of Saratoga Casino,” said New York State Assemblywoman Carrie Woerner. “The casino has consistently demonstrated good community stewardship along with a strong reliance on purchasing goods and services from local businesses. We congratulate them on the significant achievement of contributing One Billion Dollars to New York State Education.”
With one full year of operating the new hotel and property expansion, Saratoga Casino Hotel amassed a $222 Million Dollar statewide economic output in 2017. That figure accounts for the total payroll for their employees, operations expenses, support for racing, and statewide education contributions.
“We are dedicated to continual improvements and capital investments that will enable Saratoga Casino to remain a regional economic driver in an increasingly competitive market,” said Gerrity. “We’re confident these investments will allow us to prosper in the future and further our support of New York State Education.”
Since opening in 2004, Saratoga Casino has also spurred significant economic activity in both Saratoga Springs, and Saratoga County. The casino has contributed approximately $9.3 Million to the city of Saratoga Springs and $3.1 Million to Saratoga County respectively. The contributions do not account for the local vendors and regional businesses utilized by Saratoga Casino, which in 2018 alone are estimated to account for $19.6 Million in spending.
Saratoga Casino Hotel is also responsible for a significant impact on regional agriculture and equine businesses. Each year, the casino generates approximately $20 Million towards New York’s agriculture business. This encompasses the racing purses won by owners, drivers and trainers that are then re-invested towards purchasing feed from local farms, receiving veterinarian and blacksmith services. Since the introduction of the casino’s VLTs in 2004, $150 Million has been directly added to purses and have been responsible for adding an additional 600 racing programs.