New York State’s two newest casino resorts post impressive $3 million weekly profits

  • Two newest New York State casinos make $3 million a week
  • News comes despite neither casino being fully operational at this time

New York’s newest land based casino venues are showing large profits in their first few months – despite neither premises being completely finished yet.

new york casinos make healthy profits

Work is still ongoing at the del Lago Resort Casino and the Rivers Casino & Resort, which opened within one week of each other back in early February. However, both casinos are averaging about $3 million per week over their first three months – and projections for the near future show great potential for the fledgling casino properties.

Commercial casino success in Upstate NY

The del Lago and Rivers venues are unique to New York as they represent the first two full casino resorts allowed to operate in the state. There are 23 listed gambling premises, forming a mix between ‘racinos‘ or racetrack casinos, and casinos run by tribal interests. However, allowing the two commercial venues to open looks like a wise move, given the successful opening months and the extent of profits posted so far.

According to official figures, del Lago has taken $26.1 million in profit before taxes between opening and mid-March. Rivers, which opened one week later, posted a $24.7 million profit in the same period.

Based on these figures, the casinos are able to project profits of more than $200 million by 2019/2020 – which is positive news for New York State’s economy.

New York’s bid for online casino legislation

A boost in casino revenues is sure to help the state’s bid to legalize online casinos. Online poker has been subject to a number of proposals in recent years, including the S5302 bill in 2016.

This looked set to pass through the Senate with ease, but was halted by Assemblyman J. Gary Pretlow over concerns about security and anti-cheating measures. Now that these issues have been resolved, the issue of legal online poker is back on the table through new bill S3898. The news that casino revenues are rising will make the bill look very attractive to lawmakers who want to boost New York’s economy.

OUR VERDICT

New York is one of a handful of US states in the midst of discussing online casino regulation – but it looks like it’s land based industry has every reason to be positive right now. Considering neither casino is actually complete, and the little time in which they have been letting punters through their doors, the profit figures are certainly impressive. Ideally, as states like New Jersey illustrate, a healthy casino and gambling industry works well when both online and land based casinos work in harmony – after all, one will often feed the other and vice versa. If the above news shows nothing else, it’s that there is certainly demand for casino games and services in New York State. And that will be music to the ears of those proposing the legalization of online playing.

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