The long-awaited debut of Resorts World Casino New York at Aqueduct Race Course late last October has triggered impressive growth in New York gaming revenue: statewide, revenues are running some 50 percent higher than in the pre-Aqueduct period. From its inception through the end of May, the facility has generated $364,322,407 in net win, $162,061,859 in revenue to education and $139,962,515 to the facility operator, an amount shared with horsemen.


In May, the casino’s 4,943 video gaming terminals generated $57,462,633 in net win, an average of $375.00 per machine per day. As expected, that rate exceeds any other racetrack gaming facility in New York; Finger Lakes is currently second with $312.00 per machine per day in May, followed closely by Empire City Casino at Yonkers at $309.41.
               
Not surprisingly, the Aqueduct casino has had a negative impact on its closest competitor, Empire City. The latter has reduced its number of machines by about 500 since last October, to an average of 4,885 during May. With the exception of December, revenue has fallen every month since November when compared to the prior year.

That is in marked contrast to the rest of the state, which for the most part continues to enjoy strong growth, as it has every year since the beginning. Most of the tracks experienced double-digit gains throughout the winter – likely due in no small part to extremely mild weather conditions compared to winter’s wrath the previous year. Still, the numbers are nothing short of remarkable.

The following table indicates recent trends in net win at all New York’s racetracks (dollars are in millions; columns may not add to totals due to rounding):

 

 2011:  2012:    
 Jun-OctNovDecJanFebMarAprMay
Batavia$16.8$3.3$3.3$3.1$4.0$3.9$3.8$4.0
Finger Lakes52.39.59.69.810.612.111.111.5
Hamburg31.05.56.06.16.37.87.06.8
Monticello27.74.84.64.44.95.55.85.5
Saratoga67.411.811.911.913.014.314.313.4
Tioga24.34.74.94.65.45.95.55.3
Vernon19.43.23.03.03.53.83.73.8
  Sub-Total238.842.843.242.847.853.251.250.3
         
Empire City267.542.443.943.146.952.447.646.9
Resorts World5.841.142.450.753.859.057.657.5
         
Total New York$512.1$126.3$129.5$136.6$148.6$164.6$156.4$154.6



The following table indicates the percentage change from the prior periods:

 2011:  2012:    
 Jun-OctNovDecJanFebMarAprMay
Batavia4.0%16.3%19.3%10.7%34.6%9.6%12.8%12.5%
Finger Lakes2.7%2.5%16.9%11.2%11.5%9.8%0.9%10.4%
Hamburg12.9%6.8%23.9%11.2%17.2%19.7%5.3%3.6%
Monticello5.2%10.2%19.1%10.6%17.6%12.3%9.9%1.0%
Saratoga8.8%10.1%19.3%10.5%21.0%15.2%13.4%4.3%
Tioga4.4%18.7%27.4%12.4%26.4%19.2%9.5%8.9%
Vernon2.9%1.2%16.7%8.3%17.1%5.5%4.7%-2.4%
Sub-Total6.2%8.5%20.0%10.8%19.2%13.5%7.9%5.7%
         
Empire City8.3%-7.9%7.2%-9.0%-8.7%-10.2%-16.0%-17.4%
Resorts World        
         
Total New York8.6%47.7%68.3%58.9%62.3%56.4%50.1%48.2%