"The guardians of racing are the horsemen. Empire Resorts announced in January it would close Monticello's gambling hall April 23. "When they said they wanted to shut down the machines, I suggested that we, the state, take over those machines and make them part of Catskill OTB. New York’s newest casinos are already struggling for survival, as an oversaturated market has cannibalized gaming revenue.But Resorts World Catskills, roughly 85 miles northwest of New York City, has lost money every quarter since it opened in February 2018, dragged into the red by a combination of underwhelming attendance and nine-figure loans. TEMPORARY CLOSURE After careful deliberation with New York State officials and our partners at the New York Hotel Trades Council, we have decided to – for the health and safety of our workforce, patrons and community – temporarily close Resorts World Catskills.
You get to where you know everybody," Hunter Rhinesmith, 77, of New Jersey, who has come to the track since 1959, said as he and his wife left the racino last week.There are also concerns the company ultimately wants to dump racing all together, but Resorts World said it has no plans to do so. At first, that company, Empire Resorts, stated that they would keep the racino intact on the Monticello Raceway grounds, while opening a full-scale casino six miles away. "Resorts World, though, has indicated it could run a VLT parlor in Orange County, projecting in its analysis that the facility would be a revenue boost for the region, include $100 million or more of investment from Resorts World and add about 400 jobs.Resorts World said it intends to talk to local leaders about the idea.Either way, officials locally hope that the soon-to-be empty casino at Monticello Raceway can be reused as a space for events or another full-time purpose. A Securities and Exchange Commission filing this week announced that the Monticello Casino and Raceway will be closing electronic gaming operations soon. "There is a lot of real estate where they can do a lot of things." "There is not enough business that remains at that VLT facility to justify the cost of operating it," Ryan Eller, Empire's president and CEO, said last week.The closure raises questions about the future of horse racing at Monticello Raceway and whether the VLTs can be relocated to another venue in the region, which Empire Resorts and state lawmakers are considering.Empire Resorts is vowing to keep open the venerable harness track, which started racing in 1958.But closing the VLT facility is drawing criticism from local officials and customers, who talked about missing the small, family atmosphere at Monticello.Resorts World "will never be like this. MONTICELLO, N.Y. – The electronic gaming racino at Monticello Raceway is closed as parent company Empire Resorts plans to concentrate on … Hotel guests with reservations on… Continue Reading Updates The state budget doesn't anticipate any reduction in revenue to the state.Resorts World, meanwhile, is lowering the number of slot machines it has: Last month, the state approved it going from 2,150 machines to 1,600 machines, 26 percent fewer than initially mandated.While the racino at Monticello was nearly empty inside last week, the harness track outside had more horses than people.Just three or four people were along the rail watching the races last Wednesday afternoon, a sign of how horse racing has become reliant mainly on simulcast betting rather than on-track attendance.Indeed, attendance at Monticello Raceway in 1987 was about 426,000, state records show, but was down to a meager 13,000 in 2017. "The guardians of racing are the horsemen. Monticello Raceway Shutting Down Casino on Tuesday, Workers Fear Racing Soon to Follow. Last month, the largest stockholder of Empire Resorts, the company that operates the casino, argued that Things had gotten so bad that Empire Resorts successfully petitioned the New York State Gaming Commission to reduce the number of slot machines required on its gaming floors, a move that would But Resorts World Catskills is far from alone in feeling the pain: The same challenge has faced casinos across the country, as states attracted to the promise of tax revenues and jobs have engaged in a kind of brinkmanship that divides already-served markets into smaller and smaller pieces.“In the early days, it was build it and they will come, and that worked for a long time,” said By the time New York opened its first full-fledged casinos, the state already had five tribal casinos and more than a half-dozen so-called racinos, which offer slots-like video lottery terminals at racetracks.“None of this is a shock,” said Harold L. Vogel, a longtime gambling industry analyst. Monticello Raceway Shutting Down Casino on Tuesday, Workers Fear Racing Soon to Follow. "It creates jobs, increases revenue for the state of New York and education, and we look forward to continuing the dialogue with the state, Orange County, Sullivan County and all stakeholders. Rivers Casino said it is closing for 14 days, despite no known cases of COVID-19 at the property. "So we have no intent to shut down the racing operations. "Resorts World's net win per day — the money left in the slot machines after payouts to winners — has been the lowest in the state at about $119 per machine.Monticello has been even worse over the past year: a mere $75 win per day, which is the lowest of any racino since the VLT parlors starting opening across New York 15 years ago.The amount bet at Monticello over the past year fell 50 percent compared to the year prior, Empire Resorts announced in January it would close Monticello's gambling hall April 23.
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