Study: New York Racino Revenues Up 5 Percent

City & State

New York’s racetrack casinos posted record growth in slot machine revenue in the first quarter of this year, according to figures compiled by the New York Gaming Association, an industry group.

The state’s nine racetrack casinos saw gross revenues rise by about $23 million to $472.9 million, an increase of more than 5 percent. At the same time, competitors in Atlantic City, Connecticut and Pennsylvania experienced declining revenues.

“The numbers don’t deceive,” James Featherstonhaugh, the New York Gaming Association’s president, said in a statement. “New York’s racetrack casinos are outpacing other states in performance and return on investment.”

The report comes as New York considers how to move forward with the legalization of casino gambling. Last year the Legislature passed an amendment calling for up to seven full-fledged Las Vegas-style casinos, but this year Gov. Andrew Cuomo said he wants to start with just three upstate casinos, leaving some if not all of the existing racetrack casinos out of the mix.