New York’s nine licensed casinos posted mostly positive numbers for the April 2015 through March 2016 fiscal year.
The Empire City Casino in Yonkers said it took in 5.7 percent more in revenues at $571.2 million for the fiscal year, up from $540.4 million the prior year.
Meanwhile, the Monticello Casino and Raceway reported nearly $61 million in revenues for the prior fiscal year, up 4 percent from $58.5 million a year ago.
At almost $846 million, the Resorts World Casino in Queens posted the largest revenue numbers with for the fiscal year among the state’s nine licensed electronic gaming casinos. Its numbers were up 3.7 percent from $816 million the prior fiscal year.
Batavia Downs Gaming posted the largest increase percentage-wise at 10.7 percent, with $54.3 million in revenues against $49 million a year ago.
Only the Vernon Downs Casino recorded a revenue decline, with $38.6 million in revenue, versus $40.9 million a year earlier for a 5.6 percent drop.
The Saratoga Casino and Raceway said it grew revenues by 3.2 percent at $163.6 million, Finger Lakes Gaming and Racetrack by 5.1 percent at $129.3 million, Hamburg Gaming by 3.9 percent at $65.7 million, and Tioga Downs Casino by 4.1 percent at $58 million.
Statewide electronic gaming netted $1.98 billion – 4.3 percent rise from $1.9 billion a year ago. New York netted a $9.69 billion win for the 2015-2016 fiscal year, up 5.8 percent from $9.15 billion.
While Batavia Downs posted the best percentage increase, its owners aren’t happy the casino has to pay a higher tax rate on its net winnings than its nearby competitors Finger Lakes Gaming & Race Track in Farmington, and the del Lago Resort & Casino in Tyre, which is slated to open next year.
Officials for Batavia Downs say those casinos have an effective tax rate of about 31.5 percent on their slots and table games, while Batavia Downs must pay a 44.5 percent rate, plus 10 percent for administrative costs.
Because they are near enough to compete with Batavia Downs, its owners want the same tax rate.
Meanwhile, in Montreign, construction continues on the Montreign Resort Casino, which Empire Resorts wants to open before the state’s imposed March 2018 deadline.
Groundwork on the $1.3 billion, 90,000-square-foot casino’s footprint began in March, and work on its parking structure already is underway.
The footings and a retaining wall also are underway for the 18-story, 332-room hotel tower, which would be the tallest building in a three-county area.
