Vernon Downs Casino and Hotel Investments Would Boost Local Economy by $14 Million, Create Nearly 100 Construction-related and 78 Permanent Jobs

$9.8 Million Private Investment Hinges
on Passage of Expanded Gaming in New York

New Study Shows Local Economic Benefits
of Live Table Games for Oneida County

The addition of live table games to Vernon Downs Casino and Hotel would significantly increase the casino’s impact on the economy of Oneida County, with planned investments of nearly $10 million initially generating nearly 100 construction-related jobs, and expanded operations generating nearly $13 million annually in county-wide economic output and more than 154 new, local jobs. The findings came from an economic impact study released today by the New York Gaming Association which demonstrates how a Constitutional amendment authorizing live table games would help local economies.

If the Constitutional amendment authorizing live table games is approved, Vernon Downs Casino and Hotel is planning to invest nearly $10 million in private funding for a new casino complex that would become a destination spot for tourism in Oneida County. The upgrades would include renovations to the hotel, improvements to racing facilities, expansion of gaming, event, recreational and meeting space.

“As the residents of Oneida County are well aware, casino gambling already exists and allowing us to add table games would create new jobs and appeal to a different customer base of younger people who enjoy poker and real table games.” states Jeffrey Gural, Chairman of American Racing and Entertainment, (which operates Vernon Downs Casino and Racetrack.)

The independent economic impact report estimates that this investment would increase local economic output, which includes wages and salaries and the purchase of goods and services by more than $14 million and immediately create nearly 100 jobs in construction and other local industries, with an additional increase of almost 80 new jobs in hotel, gaming and restaurant operations once the facility is complete. Vernon Downs Casino and Hotel currently has over 300employees. Based on 2011 salary and wage levels, the annual payroll for these new employees is estimated to be more than $3 million.

In addition to these direct jobs, the “multiplier effect” of increased casino spending would create approximately 20 additional jobs with other businesses in the County.

The casino’s enhanced business would also allow Vernon Downs Casino and Hotel to increase its assistance to the racing and breeding industry, supporting additional jobs in the industry and adding more than $1.2 million to the local economy.

The expansion of Vernon Downs Casino and Hotel would also increase state and local government revenue including funding for education. According to the estimates from the report, payments to the state from Vernon Downs Casino net win would increase by over $5 million from what it is currently contributing without live table games; and more than $368,000 in other state taxes. The increase to local municipalities including local sales tax, hotel tax and real property tax would beapproximately $294,000. Finally, the construction project alone would generate approximately $259,000 in one-time state income, sales and business taxes; and about $19,000 in local sales taxes.

With the addition of live table games, The nine New York Gaming Association members are planning to invest more than $1.8 billion in construction, creating more than 17,000 construction related jobs and generating over $3.3 billion in state-wide economic output and approximately $300 million in additional support for education.

Allowing our members to offer table games will attract more visitors to our facilities, keeping the $3-5 billion that is currently being spent in other states, right here in New York.

The Racetrack Casinos comprising the New York Gaming Association include:
• Batavia Downs Casino
• Empire City Casino at Yonkers Raceway
• Empire Resorts at Monticello Casino & Raceway
• Finger Lakes Casino & Racetrack
• Hamburg Casino at Buffalo Raceway
• Resorts World Casino New York at Aqueduct Racetrack
• Saratoga Casino & Raceway
• Tioga Downs Casino
• Vernon Downs Casino & Hotel
The economic impact analysis study was conducted by Appleseed Inc., a New York City firm that specializes in providing economic and social research analysis.

Study: Vernon Downs Casino &Hotel Creating Jobs for Oneida County

553 Jobs Supported, Added Over $28.5 Million to Oneida County Economy & Generated Nearly $22 Million to State and Local Revenues Annually
Vernon Downs Casino & Hotel Raceway added over $28.5 million to the Oneida County economy and generated nearly $22 million annually in revenues for the region and the state, according to a new economic impact analysis conducted by an independent firm.

This analysis also estimates that 553 local, full and part-time jobs are supported by the Casino.

The New York Gaming Association (NYGA) released part one of the two-part report today to outline the positive economic impact gaming has had on the local economy.

A second report, which will be released in the next few weeks, will show projections for future regional job growth and revenues that will be generated if enhanced gaming is authorized in New York.

Governor Andrew Cuomo and the State legislature will consider passing a constitutional amendment to authorize enhanced gaming.

"Many residents depend on the jobs Vernon Downs Casino and Hotel provides, and we are pleased with the results of the study," Jeff Gural, Chairman of American Racing and Entertainment (which operates Vernon Downs Casino and Hotel) said. "We are thankful for the success we have had and proud to be an economic asset to our community."

According to estimates from the analysis, in 2011 Vernon Downs Casino & Hotel provided 553 local full and part-time jobs, with 306 of those jobs representing direct employment by the casino.

Vernon Downs Casino & Hotel supported 161 jobs for racing and breeding.

Wages and salaries for employees totaled more than $8 million.

Additional findings from the report show that in 2011, Vernon Downs Casino & Hotel:
• Accounted for over $28.5 million in economic output for the region;
• Reinvested more than $1.6 million into the local economy with the purchase of goods and services (including construction) from businesses in Oneida County;
• Accounted directly and indirectly for nearly $1.3 million in revenues for Oneida County municipalities, and;
• Generated over $19 million in State revenues, of which more than $14.6 million went towards education in New York State, which is the equivalent of paying the salaries of more than 210 elementary and secondary school teachers throughout New York State.

The nine Racetrack Casinos comprising the New York Gaming Association include:
• Batavia Downs Casino
• Empire City Casino at Yonkers Raceway
• Empire Resorts at Monticello Casino & Raceway
• Finger Lakes Casino & Racetrack
• Hamburg Casino at the Fairgrounds
• Resorts World Casino New York at Aqueduct Racetrack
• Saratoga Casino & Raceway
• Tioga Downs Casino
• Vernon Downs Casino & Hotel

The New York Gaming Association members have contributed $1.96 billion to the State in 2011.

Over $830.5 million has gone to fund education in New York State which is the equivalent of paying the salaries of more than 11,900 elementary and secondary school teachers throughout New York State.

The nine Racetrack Casinos employ nearly 5,500 New Yorkers directly and have created a total of 17,400 jobs both directly and indirectly across the state.

The economic impact analysis study was conducted by Appleseed Inc., a New York City firm that specializes in providing economic and social research analysis.

Kindergarten Classic Series Expanded

The Kindergarten Classic series for 2-year-old trotters has risen steadily in popularity over its five-year history.

Conceived by Jeff Gural with the idea of offering races for 2YOs to gain racing experience and as an alternative to the major stakes, the series has seen both nominations and the final purse increase each year.

In 2011, the colt final went for $200,500 and the fillies for $182,500.

For 2012, the Kindergarten expands from four to five legs and returns to The Meadowlands for the first two.

The $10,000 guaranteed series legs begin on Thursday, July 26 and come right back the next Thursday at The Big M.

Observing the busy schedule for various sire stakes programs through the month of August and early September, the series resumes at The Red Mile for legs three and four on consecutive Thursdays, Sept 13 and 20.

Skipping forward to avoid conflict with The Red Mile Grand Circuit, the last leg will be on Friday, October 19 and the $175,000 estimated final on October 26, both at Vernon Downs.

A minimum of two leg starts is required to be eligible for the finals.

Nomination requires a payment of $600 on March 15 and another $600 to sustain comes due on April 15.

A $250 entry fee is due for each leg.

There is no entry fee to race in the final.

Nomination forms are available at the Vernon Downs website.

Gym Tan Laundry won the 2011 Kindergarten Classic for colts and geldings while Ladi Andi won the fillies division.