Saratoga casino revenue falls

Saratoga casino revenue falls as new competitor Rivers Casino & Resort impacts on the New York market.

US.- Operators of Saratoga Casino Hotel published recent gaming revenue results, noting that competitor Rivers Casino & Resort’s entry into the market impacted on its income. According to the report released this week, Saratoga’s revenue fell 14 percent since Rivers casino entered the market a year ago.

During an interview with the Albany Business Review, Keith Foley – senior vice president at Moody’s Investors Service Research – commented: “Fifteen percent is a big number; that’s typically what happens when two casinos go head-to-head.”

Furthermore, the financial company released a statement that explains: “This flat growth speaks to the broader growth challenges facing even new entrants getting off to a strong start in the region, as they have not been able to grow the market enough to avoid a substantial amount of cannibalization as well as meet their ramp-up targets.”

Meanwhile, Saratoga announced plans of expansion to compete with new gaming venues. Over 100 new jobs will be created as a direct result of the hotel expansion. A job fair will be held on May 16 inside Vapor from 2 p.m.- 6 p.m. which will provide more information on the newly-created positions. Openings will include banquet staff, cooks and waiting staff at Morton’s The Steakhouse, hotel front desk staff and room attendants. On-the-spot interviews will be offered for prospective candidates.