SCHENECTADY — Rivers Bank and Resort continues to beat amid the state’s three aboriginal bartering gaming accessories — growing the best in allotment of all-embracing acquirement compared with aftermost year.
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Although it’s one of the abate venues, Rivers saw absolute gross gaming acquirement abound 11 percent over a 12-month aeon from December 2018 to November 2019 — bringing in a absolute of $169 million, according to Times Union assay of about filed numbers with the accompaniment Gaming Commission.
The added two casinos that opened about the aforementioned time as Rivers, Tioga Downs in Tioga County and del Lago in Seneca County, saw advance of 7 percent and 6 percent, respectively.
The massive Resorts World Catskill in Sullivan County, the better of New York’s four bartering casinos, has not been accessible a abounding two years, so the aforementioned allegory is difficult. But afterwards a adverse start, the 18-story all-suite resort and bank saw its profits arise by 60 percent from 2018 to 2019, an accepted advance as some of its added attractions — like a adjoining calm ancestors baptize esplanade — were completed.
Rivers, which is run by Illinois-based Rush Street Gaming, would not accommodate addition to altercate the casino’s connected growth.
Tioga Downs buyer Jeff Gural said he consistently affected Rivers would be the best acknowledged of the four accessories because it is the alone one amid abreast an burghal center.
“You aloof accept to attending at the citizenry and the blazon of people,” said Gural, a New York absolute acreage magnate who additionally owns the Meadowlands Racetrack in New Jersey. “With sports action trends, they’re apparently accepting a lot of academy kids. … Del Lago is in the average of nowhere; Monticello (Resorts World) is in the average of nowhere. Without a catechism the best area in New York is Rivers.”
Despite the favorable acquirement uptick, Rivers had lobbyists at the Capitol beforehand this year aggravating to amplitude accompaniment legislators to accommodate tax or added abatement in the face of what it describes as antagonism advancing from MGM Springfield two hours to the east. New York taxes placed on gaming acquirement is mostly captivated by state, but about 20 percent of the blow is broadcast amid host counties, towns and cities as able-bodied as and added adjoining municipalities.
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Rivers’ sports book, which opened in July, is additionally the highest-performing operation of the four casinos, bringing in about $1 actor added back compared with the aforementioned months of operation as the next-highest performer, at del Lago.
“The Rivers Sportsbook has been a absurd new advantage for the bank and we’re seeing added guests on the property,” Rivers said in a provided statement, acquainted its concert performances are additionally bringing in guests.
New York bank revenues:*
2018: $152.3 million
2019: $168.8 million
2018: $77.6 million
2019: $83.1 million
2018: $149.2 million
2019: $159 million
Resorts World Catskills
2018 : $128.1 million
2019: $204.6 million
Resorts World opened in February 2018
*Time periods analyzed are Dec. 2017 to Nov. 2018, and Dec. 2018 to Nov. 2019. Acquirement is absolute gross gaming acquirement afore any taxes are removed.
Source: New York accompaniment Gaming Commission, Times Union research
The Schenectady casino’s sports wagering business gradually added to accomplish $1 actor aloof in the ages of October. But it alone to about bisected of that acquirement by November.
Casino operators are angry to get New York to accredit acknowledged online gaming, as they accept abounding bodies are still blockage home to illegally bet online. Gov. Andrew M. Cuomo’s administering said beforehand this year that there needs to be a built-in alteration that would acquiesce adaptable wagering in New York. (Because such an alteration requires access by two consecutively adopted legislatures, the ancient the change could be put afore voters is November 2021.)
Rivers has additionally abominably sued in an accomplishment to assort fantasy sports leagues run by sites like FanDuel and DraftKings as online wagering.
While the three accustomed New York casinos — which in 2020 will access their fourth year in business — all bigger their revenue, it is still able-bodied beneath what the companies initially projected they would accomplish back applying for their licenses in 2014. For example, del Lago estimated it ability accomplish $263 actor its aboriginal year.
In the aboriginal 11 months of 2019, it had brought in $158 million.
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