Tioga Downs Casino announces record fiscal year

By WBNG News

Tioga Downs Casino announces record fiscal year

April 18, 2013 Updated Apr 18, 2013 at 5:37 PM EST

(WBNG Binghamton) Tioga Downs Casino on Thursday announced record revenue for the state fiscal year ending March 31, including significant growth in funding for education, agribusiness and local governments.

According to a news release:

Tioga Downs Casino reported gross gaming revenues of $61 million, an increase of 2 percent over the previous fiscal year.

“Thanks to the continued support of our patrons and community, we are proud to announce a banner year for Tioga Downs Casino,” said Jeff Gural, Chairman of American Racing and Entertainment.

More than $23.7 million was generated for education during this period, an increase of 3 percent over the prior year and the highest produced since Tioga Downs Casino opened its gaming floor in 2006.

During fiscal year 2012-13, Tioga Downs Casino produced $303,800 for local governments including $199,400 for Tioga County and $ 82,800 for Town of Nichols. In addition, Tioga Downs contributed over $421,000 in State and County Sales Tax as well as $258,900 in tax revenue to the Tioga Central School District.

Tioga Downs Casino also generated $6.1 million, an increase of 2 percent over the previous fiscal year, for the racing industry. This funding supports family farms, breeders, feed producers, horsemen, veterinarians and other industry jobs, all of which are significant contributors to the rural economy especially upstate.   

“We look forward to another successful year of making a positive contribution to our community” said Jeff Gural, Chairman of American Racing and Entertainment.