After just under eight years of commercial casino gaming in New York, the industry finally reached a major milestone.
With $56.37 million generated in June, according to data from the New York State Gaming Commission, the four upstate properties pushed the lifetime gross gaming revenue total to over $4 billion.
While that is certainly worth commemorating and celebrating, the revenue report for June 2024 as an individual month provided a mixed bag.
Ups and downs fill NY casino revenue report for June
Start with the top-level number of more than $56 million in total revenue. That total stands as the second-best June since commercial casino gaming began in 2016. Only last year’s $56.93 million tops it.
Another plus from this past month came in slots, with the four casinos combining for just over $41 million – the best June ever in the Empire State.
From there, however, the individual stats begin to shine less.
Revenue from table games and poker, for example, were the lowest in the month of June since 2021. Specifically, at $14.2 million, table game revenue reflected a 14% year-over-year decline.
As for retail sports betting, falling in line with online wagering data from June, handle came in at just $4.77 million (the lowest since July 2023) while revenue stood at just $238,699. That latter figure reflected a massive 42.2% month-to-month drop-off, although it is also a whopping 85.2% improvement from June of last year.
Looking at individual casinos for June revenue
For the eighth time in the past nine months, Rivers Casino Schenectady sat atop the monthly revenue rankings in June.
At $17.87 million in total NY casino revenue, Rivers topped the next-highest casino by over $2.4 million, the largest discrepancy the state has seen between first and second since September and the biggest gap between a first-place Rivers and the next-best casino.
It proved to be the second-best month for Rivers since March 2023 despite slot revenue coming in as the casino’s second-lowest total this year. Table games certainly helped, as the $4.3 million in that area represents Rivers’ most since November.
Meanwhile, Resorts World Catskills had its second-worst month since February 2023 at $15.4 million.
Take a closer look at how each individual commercial casino performed last month:
| Casino | Total GGR | Slots | Table Games | Poker | Sports Betting | Total Tax |
|---|---|---|---|---|---|---|
| Rivers Schenectady | $17,872,448 | $13,101,700 | $4,312,107 | $300,280 | $158,362 | $4,407,585 |
| Resorts World Catskills | $15,415,589 | $8,546,596 | $6,526,666 | $344,697 | ($2,370) | $3,250,878 |
| Del Lago | $14,121,100 | $11,290,946 | $2,567,209 | $198,029 | $64,916 | $3,670,299 |
| Tioga Downs | $8,965,444 | $8,114,484 | $795,394 | $37,775 | $17,791 | $2,519,441 |
| Total | $56,374,581 | $41,053,725 | $14,201,376 | $880,781 | $238,699 | $13,848,203 |
New York needs downstate casino licenses to be issued
Last month, the New York Post editorial staff essentially lampooned the legal gambling industry in New York, mostly to dissuade Gov. Kathy Hochul from expediting the three downstate casino licenses, which could ultimately allow for online casinos in New York once lawmakers legalize iGaming.
In the piece, the publication called casinos “major economic busts in the Empire State.” While perhaps a bit of an exaggeration, since the upstate casinos set a single-year revenue record in 2022, the industry has declined since.
But once those three New York City-area casinos open, there is little doubt the state will see a boom in business. Consider what Howard Glaser, the global head of government affairs for Light & Wonder said in December. Citing a study conducted by state officials, Glaser noted that the three NYC casinos themselves could produce $8 billion in annual revenue.
For perspective, in 2022, the four upstate casinos in New York combined for a state-record $691 million.
This is certainly one reason why lawmakers passed a bill to speed up the downstate licensing process, legislation that still awaits Hochul’s signature. That bill would call for the Gaming Facility Location Board (GFLB) to set an August 2024 deadline for applications. Soon after, however, the GFLB set its own timeline, including an application deadline of June 27, 2025 – nearly a year after the bill’s set date.
It’s hard to argue, though, that the sooner those downstate casinos open, the better for the state.
