International edition
March 07, 2021

Compared to 2019 figures

NY commercial casino revenue drops 60 percent in 2020

NY commercial casino revenue drops 60 percent in 2020
For the year, Schenectady’s Rivers Casino & Resort was second-highest in gaming revenue among the four casinos and highest in taxes paid.
United States | 01/19/2021

Schenectady’s Rivers Casino & Resort suffered the smallest impact among the four state-regulated casinos, dropping 55% to $76.1 million in gross gaming revenue for 2020. The steep drop-off was expected as the casinos subject to state regulation were closed for nearly six months after the pandemic hit.

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evenue at the commercial casinos in the state of New York was down 60% from 2019 to 2020, as a result of the financial impact of the ongoing coronavirus pandemic.

The drop-off was expected, the Daily Gazette reports, as non-Indian casinos were closed for nearly six months after the pandemic hit, or about 50% of the year, and operated at reduced capacity for more than three months, or about 30% of the year.

Schenectady’s Rivers Casino & Resort suffered the smallest impact among the four state-regulated casinos, dropping 55% to $76.1 million in gross gaming revenue for 2020. On this, it paid $26.4 million in gaming tax, also a 55% drop.

Very strong performance in January and February 2020 — the only part of the year not affected by COVID — slightly lessened the impact of the next 10 months. Gross gaming revenue was 28% higher in January and February 2020 than in 2019.

For the year, Rivers was second-highest in gaming revenue among the four casinos and highest in taxes paid.

Saratoga Casino Hotel, meanwhile, had a net win of $50.4 million in 2020 and paid $24.4 million in taxes on it. That’s a 60% drop in net win from 2019.

Del Lago Resort and Casino in the Finger Lakes region reported $61.2 million in 2020 gross gaming revenue, down 61%.

Resorts World Catskills reported $87 million in revenue, down 58%.

Tioga Downs Casino in the Southern Tier reported $35.5 million in revenue, down 57%.

As a whole, Saratoga and New York’s eight other video gaming locations saw revenue drop 62% year over year.

As the crow flies, the closest competing facility to Rivers and Saratoga is MGM Springfield in Massachusetts. It reported $138 million in 2020 revenue, a 52% drop from 2019. MGM was closed for three whole months and part of two others, so was open a bit longer than the New York casinos.

New York casinos face a number of other restrictions, including reduced operating hours to allow for deep cleaning; reduced maximum capacity, to limit crowd size; and reduced number of machines or seats, so as to increase distance between gamblers.

The New York State Gaming Commission, based on Broadway in Schenectady, maintains a database of casino financial information online.

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