Logo

The state’s network of racinos posted lower revenues from one year to the next for the first time since the gambling parlors opened a decade ago, figures revealed Monday.

The drop was modest — $7 million, or about 0.4 percent — but is a troubling indicator of the things to come when three Las Vegas-style resort casinos open upstate in 2017, one gambling expert said.

“At least two racinos will have to close,” predicted Gary Greenberg, an investor in the Vernon Downs racino in the Finger Lakes region.

The state’s nine racinos generated a total of $1.905 billion in revenues in the 2014-2015 fiscal year, which ended March 31.

Of that sum, $866.9 million went to the state to help fund education.

In 2013-2014, the racinos took in $1.912 billion in net revenues.

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy