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Gaming Market Study: State of New York – Appendices

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Gaming Market Study: State of New York – Appendices GAMING MARKET STUDY: STATE OF NEW YORK Appendices Prepared for the New York State Gaming Commission January 2021 Contents APPENDIX A: INDIVIDUALS INTERVIEWED FOR THIS PROJECT ..............................................................1 APPENDIX B: REGIONAL ECONOMIC MODELS INC. PI+ MODEL ............................................................6 APPENDIX C: DEMOGRAPHIC PORTRAIT OF NEW YORK STATE ........................................................... 13 1. GENERAL POPULATION ....................................................................................................................... 13 2. NEW YORK COUNTY POPULATION ........................................................................................................ 15 3. GENERAL STATE DEMOGRAPHIC PROFILE ............................................................................................... 16 4. REGIONAL DEMOGRAPHIC PROFILES ..................................................................................................... 18 5. POPULATION GROWTH IN TWO METRO AREAS ....................................................................................... 21 SUB-APPENDIX C1: NEW YORK COUNTIES AND MARKET REGIONS ..................................................... 24 SUB-APPENDIX C2: INBOUND AND OUTBOUND NEW YORK MIGRATION FLOWS ................................ 25 SUB-APPENDIX C3: NEW YORK’S METROPOLITAN STATISTICAL AREAS............................................... 26 SUB-APPENDIX C4: 2018 NEW YORK POPULATION DENSITY BY COUNTY ............................................ 27 APPENDIX D: LESSONS LEARNED FROM ELSEWHERE ......................................................................... 29 APPENDIX E: OVERVIEW OF NEW YORK GAMING FACILITIES ............................................................. 34 1. VLT FACILITIES .................................................................................................................................. 34 a. Batavia Downs Gaming & Hotel .......................................................................................... 34 b. Empire City Casino ............................................................................................................... 34 c. Finger Lakes Gaming & Racetrack ........................................................................................ 35 d. Hamburg Gaming/Buffalo Raceway at the Fairgrounds ..................................................... 35 e. Jake’s 58 Casino Hotel ......................................................................................................... 35 f. Resorts World Casino New York City and Nassau OTB ........................................................ 35 g. Saratoga Casino Hotel ......................................................................................................... 35 h. Vernon Downs Casino Hotel ................................................................................................ 36 i. Closed: Monticello Casino & Raceway ................................................................................. 36 2. COMMERCIAL CASINOS ....................................................................................................................... 36 a. Del Lago Resort & Casino ..................................................................................................... 37 b. Resorts World Catskills ........................................................................................................ 38 c. Rivers Casino & Resort Schenectady ................................................................................... 38 d. Tioga Downs Casino Resort ................................................................................................. 38 e. VLT vs. Commercial Casino Operational Differences .......................................................... 38 3. INDIAN CASINOS ................................................................................................................................ 40 a. Cayuga ................................................................................................................................. 40 b. Oneida ................................................................................................................................. 40 c. Saint Regis Mohawk ............................................................................................................. 41 d. Seneca ................................................................................................................................. 41 e. Shinnecock ........................................................................................................................... 42 APPENDIX G: METHODOLOGY FOR U.S. SPORTS WAGERING ESTIMATES ........................................... 43 1. GLOBAL MARKETS OFFER INSIGHT INTO STABILIZED U.S. MARKET SIZE ...................................................... 43 a. GGR Rises after Adoption of Digital Wagering .................................................................... 46 b. U.S. Sports Wagering GGR Factors ...................................................................................... 47 c. Although Well Established, Nevada Provides Little Market Insight .................................... 48 d. Among Recently Legalized States, New Jersey Provides the Most Insight ......................... 49 APPENDIX H: BACKGROUND AND OVERVIEW OF IGAMING (CASINO AND POKER) IN THE U.S. ........... 52 1. NEW JERSEY SHOWS IGAMING IS COMPLEMENTARY BUSINESS FOR RETAIL CASINOS ..................................... 55 2. IGAMING VS. RETAIL GAMING .............................................................................................................. 56 New York Gaming Study: Appendices i APPENDIX I: BACKGROUND AND OVERVIEW OF ILOTTERY IN THE U.S. ............................................... 58 1. EXISTING ILOTTERY MARKET ................................................................................................................ 65 APPENDIX J: UNDERSTANDING GAMING TAX POLICY ........................................................................ 68 APPENDIX K: TAX SENSITIVITY ANALYSIS WITH HYPOTHETICAL VLT FACILITY ..................................... 75 APPENDIX L: STATUTORY OTB REVENUE DISTRIBUTION FORMULAS .................................................. 78 APPENDIX M: STATUTORY REVENUE DISTRIBUTIONS OF NEW YORK OTB PARI-MUTUEL HANDLE, 2016- 2018, AND RECOMMENDED SIMPLIFIED OTB DISTRIBUTION RATES ................................................... 82 1. NOTES PERTAINING TO RECOMMENDED FLAT RATES FOR OTB STATUTORY DISTRIBUTIONS ........................... 87 APPENDIX N: OTB STRUCTURES IN SELECTED STATES ........................................................................ 89 APPENDIX O: MARKET-ORIGIN FEE SCENARIOS ................................................................................. 90 APPENDIX P: CALCULATIONS OF VLT REVENUE AND DISTRIBUTIONS ................................................. 94 APPENDIX Q: PARETO ANALYSIS: BREEDERS, OWNERS, TRAINERS, JOCKEYS ...................................... 96 1. NEW YORK RACING ASSOCIATION......................................................................................................... 97 a. NYRA Trainers ...................................................................................................................... 97 1) Aqueduct ..................................................................................................................... 97 2) Belmont ....................................................................................................................... 98 3) Saratoga ...................................................................................................................... 98 b. NYRA Owners ...................................................................................................................... 99 1) Aqueduct....................................................................................................................... 99 2) Belmont ...................................................................................................................... 100 3) Saratoga ...................................................................................................................... 100 c. NYRA Jockeys ..................................................................................................................... 101 1) Aqueduct..................................................................................................................... 101 2) Belmont ...................................................................................................................... 102 3) Saratoga ...................................................................................................................... 102 2. NEW YORK THOROUGHBRED BREEDERS ............................................................................................... 103 a. New York Thoroughbred Breeders Awards ....................................................................... 103 b. 2019 Thoroughbred Open Company Owner Awards ........................................................ 104 c. 2019 Thoroughbred Stallion Awards ................................................................................. 104 3. NEW YORK STANDARDBRED BREEDERS AWARDS ................................................................................... 105 APPENDIX R: POTENTIAL METRICS FOR EVALUATION AND DETERMINATION
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