Resorts World NYC Posts Over $80M in Revenue in First Three Weeks

^{Table games have helped boost slot revenues at Resorts World NYC, despite falling short of expectations. (Photo: Anthony Behar / Sipa USA)}

Resorts World New York City has taken its spot as the highest-grossing casino in the state of New York, generating a combined $82.4 million in gross gaming revenue in its first three weeks as a full casino operation. even if some of its numbers aren’t quite up to expectations so far.

The new Queens casino, the first to open in New York City, brought in $27.2 million in the week ending on May 3, its first week as a full-fledged casino operation.

Gravity of New York Casino Industry Shifts to the City

That was followed by $26.7 million more for the week ending on May 10, and set a high mark of $28.5 million for the week ending May 17, according to figures released by the New York State Gaming Commission.

Resorts World NYC opened its table games on April 28, marking its transition from an electronic gaming racino to a full casino operation. It took no time for it to far outstrip the revenues coming from the four upstate casinos in New York.

Those four casinos – including Resorts World Catskills, Rivers Casino in Schenectady, Tioga Downs and Del Lago Resort and Casino – combined for just $13.4 million in gross gaming revenue the week before Resorts World NYC opened. And while that number actually went up to $14.1 million the next week, the Genting resort in Queens nearly doubled the combined revenue of those upstate resorts.

But that doesn’t mean all the numbers were exactly where state officials hoped they would be when Resorts World NYC expanded into a full casino.

Table Games Driving Better Slots Revenues

So far, table game revenue has fallen short of expectations. Before opening, analysts had expected gross gaming revenue of about $7,500 per day, per table. After three weeks, the 242 table games have generated $17.3 million, or about $3,409 per table per day.

But there are signs that offering table games has created knock-on effects that are helping the casino overall. In its first week of full operation, slot gaming revenues were up about 20.5% compared to the same period last year. Since slots make up the majority of gaming revenue, overall GGR was up 46% year-over-year.

The results are the first sign of just how much revenue New York casinos could take in once all three downstate casinos are online.

Unlike Resorts World NYC, both Bally’s Bronx and Metropolitan Park are being constructed from scratch, meaning they aren’t likely to open until at least 2030. And Resorts World is planning updates to its casino as well, promising a $5.5 billion integrated resort that will feature around 6,000 slots machines, 800 table games, a 2,000-room hotel, a 7,000-seat arena, and more.