New York State would forever remember 2019 as the year it greenlighted legal sports wagering and the end of the year is a time for retrospection and evaluation. The four commercial casino resorts in Upstate New York issue detailed information about their gaming operation over 2019. Rivers Casino and Resort reported paying the largest amount in taxes to the state.
Ringing in 2020 is a time for evaluation and highlighting all the positive steps taken throughout the year. When it comes to wagering on sports events in New York, this is essential, as the gaming offering was legalized in the summer of 2019. With several months of betting on sports events across commercial and tribal casino locations, the field has seen significant growth.
Gross Gaming Revenue
Resorts World Catskills located in Monticello is the newest casino resort in New York State, having launched operation in February 2018. Gross gaming revenue amassed by gambling of all sorts reported by the casino resort proved to be the highest amount. This sum takes into account the sports wagering performance across all months of legal operation within 2019, as well as traditional gambling already available on site.
Over the first 11 months of gaming operation of 2019, Resorts World Catskills amassed some US$17.47 million, the highest average monthly gross gaming revenue among all commercial casino locations in New York State. This amount marks a surge when compared to fiscal 2018-2019, which generated US$13.71 million. When it comes to slot machines payout for the 2019 calendar year, Resorts World Catskills devices witnessed some 90.76 percent payout.
The gross gaming revenue includes both table gaming, slot machines revenue, and sports wagering that has taken place on the premises of the venue over the past 12 months. Rivers Casino and Resort ranked second-best with gross gaming revenue reaching US$14.3 million. This amount was once again an improvement of the previous fiscal year, seeing US$13.09 million.
In-Person Sports Wagering
Rivers Casino and Resort in Schenectady saw high popularity of its slot machines witnessing US$1.25 billion in bets made across the first 11 months of 2019. Table gaming was also a preferred activity for Schenectady players, as it generated gross gaming revenue of US$38.5 million. The overall revenue generated amounted to US$109 million, placing the casino resort on the top position on a state level.
This gaming operation is perceived as a driving engine for regions to the likes of Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schoharie, and Washington. They all benefit from allocations amounting to a total of 10 percent of the gaming revenue. Del Lago Resort generated gross gaming revenue of US$13.18 million over 2019, whereas Tioga Downs ranked last with its gross gamin revenue reaching US$6.97 million.
It could be recalled that the month of November saw sports wagering earnings of US$1.3 million. This meant that the performance had dropped some 41 percent when compared to the month of October. Back then, Upstate New York casinos generated US$2.2 million thanks to in-person sports wagering. The year 2020 is about to see more action towards legalizes online sports betting, which is expected to increase the popularity of this offering.
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