Report: NYS More Dependent On Gambling Dollars
New York state government is collecting more gambling revenues than ever and is becoming more dependent on money from residents who like to take a chance. That’s according to a report released by the state comptroller’s office.
The report shows gambling revenues for the last fiscal year were $3.2 billion – an average of $161 per state resident.
State comptroller Thomas DiNapoli says New York collects more in gambling revenues than any other state.
DiNapoli says New York’s reliance on lottery money has continued to grow. He says it rose to 4.6 percent of state tax revenues in the just-ended fiscal year compared to 3.8 percent a decade earlier.
The report released by the comptroller indicates it’s difficult to predict the net effect new casinos will have on overall state revenue.
DiNapoli says the state Gaming Commission should assess the impact expanded gambling will have on individuals, communities and the state as a whole as it considers awarding casino licenses.
The commission is expected to start awarding licenses by late this year.