New York Casinos Experience Increased Revenues in February
New York Casinos Experience Increased Revenues in February
The month of February was a good one for casinos in New York State. According to the New York State Gaming Commission, the state’s casinos generated $142.5 million in gross gaming revenue last month, an increase of 10.3% compared to February 2020.
The increase in revenue is attributed to a number of factors, including the reopening of casinos after being closed for several months due to the COVID-19 pandemic. Additionally, the state’s casinos have been able to operate at a higher capacity since Governor Andrew Cuomo announced that they could increase their capacity from 25% to 50% in early February.
Another factor that may have contributed to the increase in revenue is the popularity of online gambling. While online gambling is not yet legal in New York State, many residents are turning to online casinos based in other states to satisfy their gambling needs.
The state’s four commercial casinos all saw an increase in revenue in February. Resorts World Catskills in Monticello generated $15.9 million in gross gaming revenue, up 7.6% from February 2020. Rivers Casino & Resort in Schenectady generated $17.5 million, up 11.5% from last year. Tioga Downs Casino Resort in Nichols generated $9.2 million, up 12.2% from last year. Finally, del Lago Resort & Casino in Waterloo generated $12.4 million, up 14.7% from last year.
The state’s tribal casinos also saw an increase in revenue in February. Turning Stone Resort Casino in Verona generated $32.8 million, up 11.6% from February 2020. Seneca Niagara Resort & Casino in Niagara Falls generated $28.9 million, up 8.6% from last year. Finally, Seneca Allegany Resort & Casino in Salamanca generated $16.8 million, up 9.8% from last year.
While the increase in revenue is certainly good news for the state’s casinos, it remains to be seen whether this trend will continue in the coming months. The COVID-19 pandemic is still ongoing, and there is always the possibility of another shutdown if cases begin to rise again.
Additionally, the state’s casinos are facing increased competition from neighboring states such as Pennsylvania and New Jersey, which have both legalized online gambling and have a larger selection of casinos.
Despite these challenges, the increase in revenue is a positive sign for New York State’s casinos and the state’s economy as a whole. As long as they can continue to adapt to changing circumstances and provide a safe and enjoyable experience for their customers, there is reason to be optimistic about their future success.