New York Casinos Set To Reduce Slot Offerings Following Massive Revenue Loss

Two of upstate New York’s most prominent casinos – the Resorts World Catskills and Tioga Downs – are set to reduce the number of slot machine offerings they have in their casinos, following a steady decline in revenue in the past few quarters.

Both casinos are reported to have approached and secured the New York Gaming Commission’s permission to implement the slot offering reduction at the earliest. Representatives of the casinos say that each slot machine should have on average a $200 per day win, per machine. However, State Gaming Commission records show that both Tioga Downs, locatedwest of Binghamton in the Southern Tier and Resorts World Catskills, located near Monticello in Sullivan County, has failed to meet this limit in the past two years.

State records indicate that Resorts World Catskills earned a meager $117 per day on average from its 2,150 slot machines, while Tioga Downs raked in $195 per day on average from its 942 slot machines. Casino representatives believe that eliminating burdensome slot offerings may help them reach the $200 win threshold.

The only other authorized casino in upstate New York that experienced similar losses in revenues was the del Lago Resort & Casino near Waterloo in Finger Lake. The casino earned $160 per day on average from its 1,950 slot machines. But there is no word yet whether del Lago will engage in a similar elimination exercise or not.

The numbers

Resorts World Catskills had about 2,150 slot machines when it started operations in upstate New York in 2018 and Tioga Downs had 942 slot offerings. The casinos have confirmed that they will be bringing down their slot offerings down to 1,600 and 882 machines, respectively. This will result in a 26% drop in slot offerings for Resorts World Catskills and a 5.3% drop for Tioga Downs. This reduction is expected to clear up space within the casino and allow for smoother, more financially-beneficial operations.

New facilities

The reduction of slot machines is expected to pave the way for modern amenities like more table games on the floor. Jeff Gural, owner of Tioga Downs revealed that he plans to use the disengaged resources to fuel the casino’s sports betting wing, once the New York State Senate legalizes sports betting. As for Resorts World Catskills, owners Empire Resorts have revealed that the freed-up space will be used as a harness racing track from April 23, 2019, when the elimination process is expected to be completed.