Anthony Pancella III is Suffolk OTB’s new president and CEO

Listen to this article

Anthony Pancella III is Suffolk Regional Off-Track Betting Corporation’s new president and CEO.

Pancella has served the organization since 2010 as its vice president and chef operating officer. In that role, he helped lead a team that guided the corporation out of bankruptcy and ultimately to owning and operating Jake’s 58 Hotel and Casino in Islandia.

Jake’s has gone on to generate “record profits” and  provide $300 million to support New York State public education. Profits have also provided support to Suffolk County as well as create “hundreds of union jobs,” according to a news release announcing Pancella’s new role.

“I have been blessed to work alongside great talent who have guided this organization to where we are today, which is one of the most successful casinos in the State of New York if not the country,” Pancella said in a statement.

“My goal will be to utilize my experience to build on that record of success and do even more to support our state and county partners and create even more jobs,” he added. “The best way we can do so is to receive authorization to expand Jake’s 58 by 1,000 machines.

New legislation introduced this session would allow Suffolk OTB another 2,000 machines.

In the first three quarters of 2021, Suffolk OTB transferred $16.5 million to the county. That total already exceeded the organization’s largest ever annual transfer, including a record $9.39 million transfer to the county for the third quarter, according to Suffolk OTB.

In 2022, Suffolk OTB is projected to transfer a record $37.5 million to the county, according to the organization.

Local leaders said Pancella’s new role is good for Long Island.

“Tony Pancella has proven management and policy experience to lead Suffolk OTB and bring it to even greater heights,” Suffolk County Legislature Presiding Officer Kevin McCaffrey said in a statement.  “I look forward to a continued strong partnership with Tony to support Suffolk OTB’s efforts to keep Suffolk County dollars local to create good-paying jobs and support services.”

“Tony Pancella has been a member of OTB’s core management team as it transitioned from bankruptcy to unprecedented success,” Suffolk County Legislature Democratic Leader Jason Richberg said in a statement. “Tony is an excellent choice who will provide the steady leadership Suffolk OTB needs. I look forward to supporting his efforts to expand OTB and do even more to support the region.”

“Tony Pancella is a great choice to lead Suffolk OTB and brings a wealth of private and public sector experience to the position,” Matthew Cohen, president and CEO of Long Island Association said in a statement.

The LIA held a networking event in November at Jake’s 58, with and the two organizations plan to work together going forward.

“With Jake’s 58, Suffolk OTB has become a major economic engine for Long Island, creating hundreds of local jobs and hundreds of millions of dollars to support vital services,” Cohen said. “ I look forward to working with Tony and the team at Suffolk OTB to expand Jake’s and create more good-paying jobs for Long Island.”

Pancella said he aims to continue to work with New York State officials to advocate for an additional 1,000 video lottery terminals. That addition would bring an estimated additional $12 million per year in net proceeds to the county and tens of millions of additional dollars each year to New York State.  It’s a project that would create hundreds of immediate union construction jobs done through a project labor agreement as well as permanent jobs.

Pancella also pledged to work closely with Suffolk OTB’s workforce.  Suffolk OTB employs approximately 250 Teamsters Local 237 union workers at Jake’s 58 in addition to members of the Hotel Trades Union. 

“The heart and soul of Suffolk OTB and Jake’s 58 is our talented workforce,” Pancella said. “I have been honored to get to know these women and men who have helped OTB emerge from bankruptcy, adapt and reopen from COVID, and create an exceptional customer experience. They don’t get nearly enough credit, and I will do everything I can to empower and support this great workforce.”

The OTB Board named James LaCarrubba as vice president and chief operating officer. He had previously served as president and CEO since December 2020.