Albany experienced revenue fall
Racetracks in Albany experienced a double digit revenue fall after the opening of two casinos in upstate New York.
US.- The latest financial report in New York reveals that racetracks located in Albany, near the two newest casinos, experienced a 17 percent fall in revenues in the last few weeks. The facilities said that they were expecting a revenue drop.
On the other hand, Press Connects said that Tioga Downs experienced a slight rise after fully converting into a casino: revenue was 2 percent up this year after the addition of 12 poker tables and 23 table games and the addition of 140 more slot machines. Tioga Downs owner Jeff Gural, said: “I think once we get into the warmer weather, and for us, to get the hotel and the golf course, we should have a better handle on how we’re doing.” Gross gaming revenue (GGR) has grown US$800.000 in the three months that video lottery terminals (VLTs) have been fully operational.
Finger Lakes Gaming and Racetrack officials said that they were expecting a fall in revenues after the opening of the two casinos. “As expected, we have seen declines in customer traffic and revenue since del Lago’s opening,” said spokesman for the racetrack, Steve Martin. “At this point, it is far too soon to determine if those decline levels are a consistent trend or will grow given that they will continue to open various amenities and further develop marketing programs. Our focus remains on what we can control, which is providing the best possible experience for our guests when they visit,” he added.
