In August, Rivers Casino & Resort saw its best revenue month ever since its February 2017 opening, having reported $14,412,387 million in gross gaming revenue on $132.7 million gambled, according to the New York State Gaming Commission (pdf).
The next best revenue grossing month was in March 2018 when the Schenectady waterfront casino reported $13.9 million gross gaming revenue.
Highest ever GGR:
Of its August gross, 67 percent or $9,614,572 million was the casino’s net revenue while $3,849,443 million was paid as taxes, $240,590 of which went to the host city of Schenectady. The latter two tax numbers are the highest ever since the casino’s opening.
To date, the casino located in the Capital District is averaging $12.94 million in gross gaming revenue a month and an average of $219,131 a month in tax payments to the city in eastern New York.
The last week of the month, August 27 to September 2, Rivers Casino & Resort reported its best single revenue week ever, $4,021,942 in gross gaming revenue.
The Rush Street owned and operated property doubled its average weekly total for table game revenue when in the last week of August 2018, it swelled to $1.7 million.
Second best GGR:
The casino’s second-best weekly gross gaming revenue, $3,882,454 in July last year, was improved on by a bigger single surge in table game revenue at $2.04 million.
According to The Daily Gazette…
Via email on Friday, a spokeswoman for Rivers said, “We are very thankful for the community support and our loyal guests and continue to focus on providing a great experience for them every time they walk through the doors.”
Competition sees revenue decline:
Meanwhile, August was the best month of the year so far for Saratoga Casino-Hotel, the other gambling facility in the Capital District, which is located only about 20 miles away from Rivers Casino & Resort. However, the newspaper reports that the month of August is always the video gaming facility’s best month of the year, as the population in Saratoga Springs swells for the popular thoroughbred horse racing season.
Apart from August, the Saratoga Springs casino-hotel’s revenue is feeling the effect of the neighboring competitor, which opened on February 8, 2017, having experienced a 14.7 percent decline in money gambled in the 2017 calendar year versus the year prior.
Outranked by other:
Among the four non-Indian casinos in New York state, Resorts World Catskills ranked number one for the month of August having reported $14,988,933 in total gross gaming revenue. Rivers ranked second with its $14,412,387, which was followed by del Lago Resort & Casino in Waterloo, NY at $13,401,710 and $6,734,155 for Tioga Downs Casino in Nichols, NY.
The monthly totals for Resorts World and del Lago were the best and second-best, respectively.
The four eastern New York casinos got some competition on Friday, August 24 when MGM Springfield opened. The news agency reports that the management of MGM Springfield has said that they plan on marketing in the Capital District.