Friday, 24 February 2017 17:12

Saratoga Casino’s Losses and Wins

SARATOGA SPRINGS – With the opening of a competitor in Schenectady, revenues were down slightly at Saratoga Casino Hotel. Yet, at least one industry expert thinks that does not indicate a long-term trend.

According to the New York State Gaming Commission, the “net win” at Saratoga Casino Hotel was $3.1 million on February 4.

On February 18, ten days after the grand opening of Rivers Casino and Resort in Schenectady, commission records show that Saratoga Casino Hotel’s net win had dipped by about $700,000 to $2.4 million. The total amount of money spent in Saratoga that same week had surpassed $38 million, while the total paid out to gamers went above $35 million.

The net win figure is considered by gaming industry officials as the most important measure of activity for any facility. It covers each facility’s total weekly earnings through the six days prior to a given date.

The records show that one of the highest net wins for the Saratoga Casino Hotel over the past year, $3.9 million, was reported in August. The casino’s weekly earnings have not dropped below $2 million since 2010.

In its first week of operation, the Schenectady gaming facility reported a net win of more than $3 million, the records show.

Amy Brannigan, director of marketing for Saratoga Casino Hotel, did not respond to a request for comment on those figures.

Lee Park, a spokesman for the state gaming commission, said he would “not recommend taking the first couple of weeks” of operation at the Rivers Casino and Resort as indicative of any type of trend. Park said officials at Saratoga Casino Hotel were well aware of the potential for an economic impact from new gaming opportunities in Schenectady, going so far as to complete “a huge expansion over the past year” in preparation.

Plus, Park said, state officials who selected the Schenectady location had fully considered its potential impact on gaming in Saratoga Springs, and determined that the industry in both areas could flourish.

Read 696 times

Blotter

  • COURTS Wifredo F. Diaz, 44, was sentenced on April 20 to a total of 50 years -to-life in prison, to run consecutively, after the conviction for two counts predatory sexual assault, and single count charges of first degree sexual abuse, and second degree assault. Diaz was also previously convicted for failing to register as a sex offender. The convictions stem from an incident that occurred in Saratoga Springs in August 2016 during which, a trial jury found, Diaz violently, physically and sexually assaulted his victim.   Jennifer M. Pugliese, 36, of Fort Edward, was sentenced on April 20 to 3-1/2…

Property Transactions

  • BALLSTON SPA 16 Cypress St., $309,267. Heritage Builders Group LLC sold property to Howard and Jane Layer. CHARLTON 1202 Peaceable St., $110,000. Kazimierzi and Sandra Austro sold property to Bryan Bartczak.  749 Charlton Rd., $288,000. Scott Bobrowich and Jenna Battenhausen sold property to Leland and Melanie Roden.  106 Jenkins Rd., $219,500. Raymond Toohey sold property to Andrew Bodine and Reagan Beadles.  118 Dawson Rd., $215,000. Timothy and Kathie Warner sold property to Michael Gnip. CLIFTON PARK 41 Balsam Way, $456,987.  Heritage Builders Group LLC sold property to Yadi and Padma Dudi . 72 Via Da Vinci, $170,000. Raita and Jennifer…
  • NYPA
  • Saratoga County Chamber
  • BBB Accredited Business
  • Saratoga Convention & Tourism Bureau
  • Saratoga Springs Downtown Business Association
  • Saratoga Mama