Zona de Azar USA – New York’s Casinos Eye Downstate Expansion as 2024 Marks Potential Transition
USA.- January 10th 2024 www.zonadeazar.com Commercial casinos in New York are poised for potential changes in 2024 as state officials contemplate downstate casino proposals and the legalization of online casinos.
The four upstate casinos concluded 2023 with a strong performance, amassing $680.6 million in gross gaming revenue, just shy of the previous year’s record.
Despite enjoying its second-best December in eight years, the industry faced a minor shortfall of less than $10 million from the previous revenue peak.
Upstate casinos are now looking at 2024 as potentially their final year as the sole land-based casinos in the Empire State, pending the issuance of downstate casino licenses.
The New York State Gaming Commission reported a combined revenue of $55.99 million for December across the four commercial casinos. Del Lago, located in Waterloo, experienced significant success in December, achieving its highest monthly revenue since March.
Rivers Casino Schenectady maintained its position as the industry leader in total revenue for the third consecutive month, with NY sports betting contributing significantly to its December earnings.
Resorts World Catskills, consistently competing for the top spot with Rivers, reported its lowest monthly revenue since April at $1.1 million. Looking ahead, 2024 holds the promise of a changing landscape with the potential issuance of three downstate casino licenses.
The Gaming Facility Location Board is anticipated to open the application process later in the year, leading to a potential shift in New York’s casino gaming landscape.
The year also brings renewed efforts by Sen. Joe Addabbo to legalize online casinos in New York. Addabbo remains optimistic that addressing the state’s $4.3 billion deficit in 2024 could be achieved through the legalization of online casinos, providing a potential boost in revenue.
The evolving casino landscape in New York is closely watched, with expectations of increased competition and opportunities for expansion in the near future.
Edited by: @MaiaDigital www.zonadeazar.com
