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New York Assemblyman Gary Pretlow Calls for Upstate Casino Review, as Revenues Fall Short of Expectations
The projections we had were wrong, Gural admitted this month. However, he added it s still been a huge success from an economic development standpoint.
Rivers projected $222 million in gaming revenue in its first 12 months in operation. But through its first eight months, the casino has generated less than $94 million in gross gaming win.
Del Lago is even worse, the casino that forecasted first-year GGR of $263 million stands at just $100.6 million through nine months.
Saw This ComingWhile gaming isn t living up to expectations, owners of the properties say it s too early to judge.
Del Lago General Manager Jeff Babinski told the Democrat and Chronicle that he s confident that we are moving in the right direction. Babinski explained that the hotel and spa has been extraordinarily well received, and the property is filling rooms with tourists.
The tourism just isn t paying off in terms of gaming revenue, at least so far. And that was Assemblyman Gary Pretlow s reasoning in sponsoring the commercial casino measure back in 2013 in the first place.
DiNapoli might be saying I told you so in his response to Pretlow. In 2014, the comptroller advised lawmakers to go numbers. Given the experience in other states, where casino revenues have been lower than expected, the state will need to use caution, DiNapoli recommended.
