Decrease in Casino earnings in New York for April, amounting to 2.1% compared to the same period last year.
Casino Clash in the Empire StateNew York's Commercial Casinos | Exclusive find | Charlotte Capewell, Contributor
Hit share Let's dive into the numbers! New York's commercial casinos reported a 2.1% revenue drop in April, with overall gross gaming revenue (GGR) slipping from $58 million to $56.8 million compared to last year.
Hinting at a shifting gaming landscape, slot machines were the only winners this time around, showing a 5% rise in earnings compared to last year, attracting $42.2 million. However, the story's not all rosy—table games and poker took quite a hit, with table game GGR plummeting by 18.3%—dropping from $16.8 million to $13.7 million—and poker games revealing a 8.3% decrease, sliding from $959,047 to $878,609.
Interestingly, Rivers Casino & Resort Schenectady led the proceedings with the highest gaming revenue of the month, boasting $18.3 million, a 5.3% upward move compared to the previous year. The tale of two casinos continuing its uptrend, Del Lago Resort and Casino reported a 0.9% rise, ending the month with $13.9 million, while Tioga Downs Casino didn't disappoint either, registering a 6.2% growth leaving them with $9.8 million.
Contrary to its peers, Resorts Worlds Catskills faced a 16.6% decline, bringing their revenue down to $14.5 million.
While April was a mixed bag, these fluctuations could be the result of several factors. First, the slowdown in table games and poker might have wiped out the gains made by slot machines. Second, increased competition within the state, particularly in the downstate area, might be draining revenue from upstate casinos. Lastly, broader industry trends could be at play—possibly declining revenue across commercial gaming in 2021.
Moreover, the competition seems to heat up as multiple downstate casinos are poised to emerge, potentially luring customers away from upstate venues like Resorts Worlds Catskills, impacting their critical revenue streams.
[1] This downward trend may be related to reduced patronage or spending on table games and poker, offsetting slot machine gains.[2] Industry-wide revenue decline trends were noted around the same time frame.[3] New and existing downstate gaming facilities pose competitive threats for the upstate casinos.[4] The anticipated licensing of new downstate commercial casinos offering full gaming amenities could further affect the market shares of existing upstate casinos.
- The reduced patronage or spending on table games and poker in New York's commercial casinos could be contributing to the casino-and-gambling revenue decline, potentially offsetting any gains made by slot machines and casino-games.
- As multiple downstate casinos are set to open, they could shape the casino-culture and gambling-trends in the state, possibly impacting the market shares of existing upstate casinos like Resorts Worlds Catskills by attracting customers and altering the current casino-games landscape.
