Jesse McKinley reports in the September 20 edition of the Gazette that “…the Saratoga Casino Hotel has seen a precipitous drop in its net winnings since the opening of the Rivers Casino, some 30 miles south”.
The Gazette reported the racino brought in $16,000,000.00 last August, typically their best month. This August their earnings were down by nearly 25%.
The story reports that James D. Featherstonehaugh, part owner of the Saratoga racino, expected “even more declines.” Featherstonehaugh said, “It’s clear we’ve reached the stress point, especially in upstate New York. The number of good quality jobs and first-rate facilities, we’re at the end of that”.
The Gazette has a pay wall but for those with access, here is a link. https://dailygazette.com/article/2017/09/19/new-york-s-bet-on-new-casinos-has-yet-to-hit-jackpot