County official unbothered about revenue dip

A county executive said that he still won’t blame the opening of three new casinos for the revenue drop.

US.- Oneida County Executive Anthony Picente Jr said that he won’t blame the revenue drop from Turning Stone Resort Casino on the new three upstate casinos that opened recently in New York.

“That’s the nature of the deal, it’s based on a percentage — you’re going to deal with fluctuations. I’m not at all panicked, I’m not concerned to any degree. It’s the first quarter, it’s not anything to worry about. I’m not looking at it as a decrease, it’s still above the baseline,” he said. As reported by Utica Observer Dispatch, the New York State Gaming Commission said that Oneida County received US$2.5 million in gaming revenue from the casino during the first quarter of 2017, a decrease of approximately US$300.000 from the first quarter of 2016.

“The decrease from last year is not really a great deal, considering it’s still so far above the baseline of what we’ve budgeted or were expected to collect. The first quarter is always different, it’s always lighter. Last year, in 2016, the weather from January to March was much milder. With those two casinos opening in February, the assumption was that, that revenue was going to take a major hit; it did not. I’m less worried in that first quarter, because when something new opens up next to something that’s been there, that initial spurt is what you worry about because everyone is going to go try it,” he added.