New York Commercial Casino Revenue Up 2.5% Year-on-Year in November as NYC Licenses are Approved

New York’s four commercial casinos generated $58.3 million in revenue for November, up slightly from the previous year’s figure of $56.9 million and representing a year-on-year increase of 2.5%.  

 The figures, published by the New York State Gaming Commission, revealed that of this figure, slots generated $42.2 million, up 4.7% year-on-year from $40.3 million. In comparison, table games produced $14.5 million, down 3% from the $15 million generated the previous year.  

 At the same time, revenue generated from poker was down 8.8% year-on-year, dropping from $954,211 to $870,660, while retail sports was up 13.8%, rising from $639,774 to $728,155.  

 The slight revenue increase comes as New York gets ready to introduce three more commercial casinos to its ranks. On December 1, the five-member New York Gaming Facility Location Board approved three new licenses, with Bally’s Bronx and Metropolitan Park being two new additions, while Resorts World NYC plans to expand its Aqueduct racetrack into a casino.  

Rivers Casino Outshines the Rest During November 

Of the state’s four casinos, only three produced double-digit figures for last month, with three also experiencing year-on-year revenue increases while one remained stagnant for the month.  

 Rivers Casino paved the way last month, recording $18.8 million, up 5.5% year-on-year from $17.8 million, the greatest revenue increase of the four casinos. Slots revenue at the casino increased 3.1% year-on-year to $14.1 million, while table games revenue was up 12.1% to $3.8 million.  

 Following this, Resorts World Catskills reported the second-highest revenue of the month, producing $16.7 million, up slightly by 0.9% year-on-year. Of this, slot revenue generated $8.8 million, up 8.8% from $8.1 million, while table games declined from $8 million to $7.6 million, a 5.9% drop.  

Del Lago Resort & Casino was the only other casino to report a year-on-year revenue gain for November, rising 2.5% to $13.5 million. Slots revenue rose 6.1% from $10.4 million to $11 million at the casino. In contrast, table games dropped 9.7% from $2.4 million to $2.2 million year-on-year.  

 Tioga Downs was the only casino to report a decline in revenue for November, dropping 0.3% to $9.4 million. Slots slightly increased at the casino, rising from $8.2 million to $8.3 million, while table games dropped 12.8%, declining from $1.1 million to $1 million year-on-year.  

Bronx, Queens to Welcome New Casinos to NYC, New Jersey Fears Economic Impact 

Much to the chagrin of Atlantic City execs, New York’s total commercial casinos are expected to increase by three with the approval of three new licenses by the New York Gaming Facility Location Board.  

 While New York City residents can look forward to two casinos located in Queens and one in the Bronx, across the Hudson, New Jersey officials are concerned about the economic impact this could have on Atlantic City’s nine casinos over the coming years.  

 “The addition of three integrated resort-style properties in the region will, at least in the short term, increase competitive pressure on Atlantic City operators,” said Jane Bokunewicz, leader of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the Stockton University School of Business. 

 With New York City only being 45 minutes away from Atlantic City’s boardwalk, some fear that the city will draw tourists away from New Jersey’s casinos, despite none of the Manhattan approvals going through.  

 Mark Giannantonia, president of the New York Casino Association in New Jersey, said that the New York City casinos come as no surprise, and that the Atlantic City casino industry had been making “significant strides” in diversifying the market to be an all-year-round resort destination.  

 “We recognize this expansion will have a negative impact over time on the Atlantic City market, which makes our mission even clearer. We must accelerate Atlantic City’s transformation into a leading year-round resort destination,” he said.