Retired Racehorses
tfrr_reportandappendicesfinal
tfrr_reportandappendicesfinal
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VLT AGENT COMMISSION REVENUE<br />
VLTs account for significant revenue to their host locations in the form of Agent Commissions. These funds<br />
are “the portion of Net Win paid to the casino operator as compensation for operating the gaming facility.<br />
Most operating expenses of the gaming facility are paid from the agent commission (including the horse<br />
racing subsidies), with the exception of the gaming floor itself, which is provided by the other vendors and<br />
paid for by the Lottery,” according to the Division of Lottery.<br />
An examination of the Agent Commissions paid in Fiscal Year 2010/2011 shows a significant amount of<br />
revenue going to each facility.<br />
17<br />
AGENT COMMISSIONS IN FY 2010/2011<br />
Yonkers Raceway $180,699,289<br />
Saratoga Casino and Raceway $44,096,540<br />
Finger Lakes Casino and Racetrack $37,041,210<br />
Buffalo Raceway $26,825,257<br />
Monticello Casino and Raceway $24,045,928<br />
Tioga Downs Casino, Racing & Entertainment $20,838,247<br />
Vernon Downs Casino, Hotel, Racing &<br />
Entertainment<br />
$17,046,125<br />
Batavia Downs Casino $13,472,840<br />
Source: New York State Division of the Lottery<br />
NYRA & RESORTS WORLD CASINO NEW YORK CITY<br />
Resorts World Casino New York City opened October 28, 2011 at Aqueduct and is expected to generate<br />
millions of dollars in revenue for many stakeholders in the industry, including horse owners, breeders,<br />
trainers and track operators. Resorts World Casino New York City, as a tenant on state-owned property,<br />
should also provide support for after-care and retirement programs.<br />
Resorts World Casino New York City receives a 38 percent agent commission on net wins at its Aqueductbased<br />
facility. Using its own estimated $500,000,000 in annual revenue, the annual Agent Commission for<br />
Resorts World Casino New York City may be estimated at $190,000,000.<br />
The New York Racing Association, Inc. (NYRA), which operates the race tracks at Aqueduct, Belmont and<br />
Saratoga (flat track), receives 7 percent of revenue from the net win at Resorts World Casino New York City<br />
for racing operations and capital expenditures (paid out of the agent commission). Using Resorts World<br />
Casino’s $500,000,000 estimate, NYRA will receive approximately $35,000,000 annually.