New York Casino Report Slows Down in September 2023
Three of New York's four commercial casinos posted gross gaming revenue in September 2023, lower than the same month a year earlier. However, the game properties that are not lacking are still competing to match last year's record revenue performance. In September this year, four facilities reported pre-tax revenue of just under $59.6 million
Currently, New York operates four commercial casinos, all located in the northern part of the country. The four properties are Rivers Casino & Resort in Schenectady, Tioga Downs Casino in Nichols, Delago Resort & Casino in Waterloo and Resort World Catskills in Sullivan County. New York State will grant three more casinos in upstate New York.
In September 2023, four commercial casinos were just under $59.6 million in total gaming revenue, according to the latest figures from the New York State Gaming Commission. The monthly figure for the not-insufficient game properties meant a 3.5% decrease from September 2022. Meanwhile, in 2023, casinos earned $514.6 million in GGR.
The annual performance of the four licensed casinos is 0.01% below the $514.7 million posted in the same period last year. Taken together in 2022 total gambling revenue of more than $690.5 million. This means the state can still match last year's impressive performance, despite a slight drop in volume in September 2023.
Resorts World Catskills led the way with nearly $20 million in total gaming revenue per month, while Schenectady's Rivers Casino made about $16.8 million. Meanwhile, Delago Resort & Casino made just over $13.5 million in revenue, while Tioga Downs Casino was last in terms of total revenue that succeeded in generating about $9.2 million.
The four licensed commercial casinos delivered about $14.5 million in game taxes in September 2023, according to the NYSGC. Since December 2016, four gaming facilities have donated more than $984 million to New York in gambling-related taxes. This number will increase with the introduction of downstate licenses.
In the process of presenting the other three
In the midst of this, there are many candidates, and competition for licenses in the three states is heating up. Recently, Wells Fargo analyst Daniel Politzer said Las Vegas Sands' offer appears likely. The company plans to establish an integrated casino resort in Nassau County, Long Island, once it gets its hands on one of the full casino permits.
Thor Equity, Chicaso Nation, Legendary Hospitality and Saratoga Casino Holdings have teamed up and won one of the licenses. Their bid is to launch 'The Coney' at Coney Island, a $3 billion casino resort on the famous boardwalk. Their project was supported by collecting more than 6,700 signatures from local residents as of the end of August 2023.