Resorts World Catskills Failing to Bring in Predicted Revenue
A brand-new Hudson Valley casino isn't coming close to bringing in projected revenue.
A new report claims Resorts World Catskills brought in less than half then expected revenue so far in 2018.
“The results are indicative of a challenging marketplace,” Empire Resorts CEO Ryan Eller said according to Focus Gaming News. "There’s a huge market out there, and we’re developing better ways to go after it.”
The Sullivan County casino has earned $119 million in gross gaming revenue a month, so far this year, putting it on track to earn $144 million for 2018. The company predicted to make $300 million this year.
According to Focus Gaming News, Eller believes the casino will thrive by the end of the year and earn at least $150 million this year.
A brutal winter and an opening without all of the hotel rooms, gaming and attractions complete is believed to be the biggest reason as to why the casino is underperforming.
Others assume an over-saturated market with many casinos in New York State plus casinos in neighboring states, like Connecticut and New Jersey, is the cause of the lackluster revenue.
- Over 468,000 Gallons of Raw Sewage Spills into the Hudson River
- Police: Hudson Valley Kids Participating in 'BB Gun War'
- Hudson Valley Contractor Defrauded Many Customers
- Resorts World Catskills Failing to Bring in Predicted Revenue
- Hudson Valley Teen Makes Professional Baseball Debut
- 2 Killed in Upper Hudson Valley Crashes, Others Injured
- Hudson Valley Prostitution Stings Leads to 14 Charged
- Officials Try to Eliminate Giant 'Horror Plant' in Hudson Valley
- Humongous Snake Falls On Top of Sleeping New York Man
- Woman Arrested After Hudson Valley Pot Farm Fire, Police Say