New state casinos underachieving
Sep 20, 2017 1:55 pm
Jesse McKinley reports in The New York Times that in 2013 Gov. Andrew Cuomo signed a law allowing seven new casinos in New York. The WGXC listening area lost out on winning one of those casinos, but perhaps "lost" is the wrong word. The two casinos that opened in the state in February have not done as well as projections, according to the New York State Gaming Commission. Lee Park, a spokesman for the Gaming Commission, said it was “much too early to make any judgment on gaming performance.... It is entirely premature to give credence to any analysis of how well the casinos are operating.” Colin A. Mansfield, a gaming analyst with Fitch Ratings, said that early numbers coming from the Rivers and Del Lago casinos were, “not overly impressive.... Usually when a new, original property opens the first couple of months are usually the strongest.” New competition is coming soon too, from casinos in Massachusetts, Connecticut, and the southern Catskills. Read the full story in The New York Times.