The region of Upstate New York is widely known for its gambling offerings which could be defined as providing their patrons with a wide variety of gaming offerings. This February witnessed the official launch of the newest casino resort in operation in the region which strove to bring a gust of wind to the area and had great plans for it. In the months since then, however, its performance could not manage to live up to the expectations of the community.
Resorts World Catskills was the fourth Vegas-style gambling venue which launched for operation in the region of Upstate New York bringing innovation to the region and promising to attract more people to the location, thus elevating the gambling revenue and increasing the economic boost. Even though there have been some concerns regarding oversaturation of the market and the potential cannibalization of the field, the developer were confident that they could make the whole project into one of the great locations.
Being a premium facility in the region, all hopes were on Resorts World Catskills to attract more patrons to the area. However, according to the information recently issued by the casino developer itself, the generated figures over the span of the months following the soft opening have not met the prognoses. It was not until couple of weeks ago that the resort witnessed its completion and full set of all-suite rooms and restaurants available to the guests.
Relatively Low Revenue Generated Since Launch
However, at the moment, the integrated resort bags less than the rest locations in operation. For reference, the slot machine win of the casino venue per single gaming device amounts to only $101. This is significantly lower than the $155 that del Lago manages to generate, not to mention Rivers Casino’s $256 per slot machine.
It should be taken into account that the rest of the venues are not performing spectacular either since experts in the field claim that anything lower than $200 per a single slot device is considered a low figure. As it was stated in a report issued by Moody’s Investment Analysis, the construction of the new venue was expected to inevitably impact the casino field of Upstate New York and the rest of the businesses in operation.
Those are Tioga Downs Casino Resort, located in Tioga County, del Lago Resort and Casino which welcomes customers in the Seneca County community of Tyre, as well as Rivers Casino and Resort which is situated in Schenectady. According to experts in the field, the decision of Gov. Andrew Cuomo to give the green light to a constitutional amendment which expanded casinos back in 2013 was a mistake.
Prior to the launch of the fourth casino resort, the three gambling venues located in the region of Upstate New York were already finding it hard to meet the expected revenue goals and amass the needed amount of money. However, the forecasts for the upcoming months and the future of the casino resort do not have to be so gloomy since improvement is expected.
It is not a secret to anyone that the summer season usually brings considerable improvement to all entertainment businesses and gambling is one of them. The potential offering of sports betting is also going to further boost the performance of the resort, attracting more patrons to the facility.
The casino floor is situated on approximately 100,000 square feet and will offer access to 150 live table games, a poker room, 2,150 slot machines, and several private gaming salons.
