NY Governor celebrates opening of Rivers Casino & Resort

The USD 330M resort features a 51,000 s/f gaming floor, a hotel and multiple dining and retail options as part of a larger Mohawk Harbor Redevelopment project. Rivers has created 1,025 permanent jobs with another 50 expected once the connected hotel and spa open later this year. Construction of the casino resulted in more than 550,000 hours and 1,710 construction jobs in the Capital Region.

“The new Rivers Resort & Casino is a vital economic asset for the Capital Region, generating new jobs and opportunity, continuing Schenectady’s resurgence and moving the region forward,” governor Cuomo said. “By supporting destination resorts across upstate New York, we are showing off the best of the Empire State while attracting new visitors, boosting tourism, and helping support and strengthen our local communities.”

Governor Cuomo’s Upstate New York Gaming and Economic Development Act of 2013 mandated that all state revenue from Rivers be directed back to the local level. 10% of the state’s tax revenue from the casino is split between the city and Schenectady County for hosting the facility, and Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schoharie and Washington counties share another 10%. The remaining 80% of revenue is distributed statewide to support public education or provide tax relief to New Yorkers.

The local governments–city, school district, Schenectady County and other neighboring counties in the gaming region established by the state–will see a significant, positive, direct impact from Rivers Casino & Resort through their share of the casino’s gaming tax payments to the state.

Based on Rivers’ estimates, the resort and casino is projected to bring in 2.8 million visitors per year. In total, the four commercial casinos–del Lago, Tioga Downs, Montreign and Rivers–when fully operational will generate $325 million in gaming taxes, of which $65 million will be directed to localities and $260 million will support public education.