Tabitha Butts, a security officer at Resorts World Casino for 10 years, says one job has changed her life.
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The state legislature is considering expanding Resorts World’s casino operations. Butts says the potential windfall could bring valuable jobs to the area.
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“It means a lot to the community, especially the expansion, because it means more jobs, especially during a time like this with a pandemic,” said Butts, who lives in nearby East New York in Brooklyn. lives.
Resorts World is the only casino in town, but it can only offer slot machines and electronic table games. Under state law, full Las Vegas-style casinos with dealers, live table games, and sports betting privileges are prohibited. Until 2023 Prohibition was passed in 2013 to give four upstate casinos time to be established. A push is underway to remove the moratorium before 2023 to help boost the state’s revenue.
Resorts World is the only casino in the city, but it can only offer slot machines and electronic table games.
Under state law, full Las Vegas-style casinos with dealers, live table games and sports betting privileges are banned downstate until 2023. Prohibition was passed in 2013 to give four upstate casinos time to be established.
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“We are in a very different time in 2021, after the pandemic, where the state is vying for an economic boost,” said Meghan Taylor, vice president of government affairs and public relations for Resorts World Casino.
Once the moratorium ends, the state can authorize up to three full-scale casinos downstate. Resorts World officials say that because this casino is already established, it could become a full-scale casino almost overnight.
“What this means is that thousands of jobs are being created almost immediately, and those thousands of jobs are for communities or will actually be in communities that need quality, high-paying jobs,” Taylor said.
Governor Andrew Cuomo said last month that he does not want to have a “knee-jerk reaction”, allowing full-scale casinos to open downstate before 2023.
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Senator Joseph Adabo, who is chairman of the state gaming committee and whose district includes Resorts World Casino, said the state is facing a multi-billion dollar deficit due to the pandemic, with casinos providing necessary tax revenue and jobs. can.
“Now is the time to get these one, two or three remaining gaming licenses in New York and not wait until the year 2023. In order to provide a transparent and reliable process that we can realize these quick three gaming licenses this year are,” said Addabbo.
Back at Resorts World, construction of its 400-room Hyatt Hotel is almost complete. Staff expect Queens Casino to become a destination to rival Las Vegas casinos if the gaming license is secured. TYRE, NY — A month after two struggling full-service casinos in upstate New York received state approval to liquidate some of their slot machines. Del Lago Resort & Casino in the Finger Lakes, has done just that.
The New York State Gaming Commission on Monday agreed to allow De Lago to reduce the number of slot machines on its gaming floor from 1,950 to 1,650, a 15 percent reduction. The commission reduced the required number of table games from 80 to 66.
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The Gaming Commission last month cut slots by 26 percent at the Resorts World Catskills near Monticello in Sullivan County, and by 5.3 percent at Tioga Downs, west of Binghamton in the Southern Tier. Of the four new Vegas-style commercial casinos that have opened upstate in the past 28 months, only River Casino & Resort in Schenectady hasn’t cut its slots.
Casino experts say that slot cutting is often a sign of a weak gaming market. But Del Lago is easing its shortfall, perhaps later this year, as a way to free up space for the expected approval of sports betting.
Resorts World’s Catskills and Tioga Downs say fewer machines will improve “efficiency.” Experts say that this is a sign of a weak market.
“Del Lago Resort & Casino appreciates (Monday’s) action by the Gaming Commission,” casino spokesman Steven A. Greenberg said in a statement. “We look forward to soon starting to build a beautiful new arena where, working with our partner at DraftKings, we will be able to offer sports gaming to our customers.”
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Yet Gaming Commission staff reported Monday that both slot and table games are “underperforming” at Del Lago, located on Thruway Exit 41 between Syracuse and Rochester. This was cited by Del Lago as one of the reasons for the demand for the cuts.
“The employees found that the capital investment (that del Lago made in the slot) turned out to be more than necessary,” the commission was told. “Its (del Lago) slot usage data illustrated a plethora of slot assets exposed to play.”
Employees of the Gaming Commission also found that reducing De Lago’s slot and table games would “have no negative impact on state gaming tax revenues and no negative impact on employment levels.” The commission unanimously approved the reduction in the vote.
Four new non-Indian nation-owned casinos operating in Upstate New York have faced what many experts believe to be an overcrowded Upstate gambling market. There are also seven Upstate Indian Nation casinos with slots and table games, in addition to several casinos (horse track with slots) and other options.
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All four new casinos have failed to earn the expected gaming revenue when seeking their state licenses. All but Rivers also fails to meet what casino watchers say is the minimum limit for slots – a daily win per machine rate of at least $200.
Over the past year, Del Lago has posted an average of 1,958 machines per day, with daily winnings of $162 per machine. The Resorts World Catskills had daily winnings of 2,134 slots at an average of $122 per machine; While Tioga Downs recorded a daily wine per machine of $198 on an average of 942 machines per day. (Those casino slot cuts would take them to 1,600 in the Resorts World Catskills and 882 at Tioga Downs).
Meanwhile, Rivers has posted daily winnings on an average of 1,150 machines at a per-machine rate of $256. It has not sought reduction in its authorized number of slots.
Del Lago’s principal owner, Rochester developer Thomas Wilmot, last year called for a reduction in taxes for the casino, arguing it was needed for the long-term health of the property. Gov. Andrew Cuomo and state lawmakers denied the request. In January, for the second time in two years, Moody’s Investor Service downgraded Del Lago’s credit rating and warned it would require cash investments to restructure its debts.
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Last month when the slot numbers for Resorts World Catskills and Tioga Downs were cut, a casino expert told syracuse.com it was a way to cut costs in a bad market.
“When casinos begin to reduce the number of slot machines on the floor it is a sign that they have overestimated market power,” said University of Texas Rio Grande Valley professor Clyde Barrow. “Most operators prefer to maintain a $200 per day win per machine and reducing the number of slots is one way to do this.
“Many operators also lease slot machines, so eliminating those machines reduces costs beyond things like maintenance, repair, and electricity,” said Barrow, who accurately described the saturation of the upstate gaming market in a report. predicted when the state was considering adding new casinos. , “In economic terms, they are adjusting supply to demand.”
Don Cazantre writes about Upstate NY Casino for NYup.com, syracuse.com and The Post-Standard. Reach him at email@example.com, or follow him on Twitter or Facebook at NYup.com.
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