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 507 times

Blotter

  • COURTS Gregory L. Lyons, 58, of Gansevoort, was sentenced on March 15 to five years of probation, after pleading to felony DWI. Fred F. Albright III, 35, of Saratoga Springs, pleaded on March 15 to felony DWI. Sentencing scheduled for May 10. James R. Wright, Jr., 26, of Saratoga Springs, was sentenced on March 15 to one year in Saratoga County Jail, after pleading to felony DWI. Craig L. Johnson, 54, of Schenectady, was sentenced on March 15 to 4 years in state prison and 1.5 years post-release supervision after pleading to criminal possession of a controlled substance in the…

Property Transactions

  • BALLSTON SPA 4 Harvester Way, $417,930. Legacy Custom Homes LLC sold property to Legacy Custom Homes LLC. 33 Forest Rd., $220,000. Louis Hoebel sold property to Michael Turgeon and Cynthia Thomas-Turgeon. 412 Goode St., $190,000. Charles Sammons sold property to Geoffry and Karley Hoffman. 8 America Way, $412,391. Briarwood Brooks Development LLC sold property to Joshua Terranova. 76 Church Ave., $180,000. Jean Dahlgren sold property to Scott, Rosemary and Avrum Tabachneck. GREENFIELD 3483 Boyhaven Rd., $79,900. Donald Sanders and Joyce Caver sold property to Geoffrey and Jillian Jones. 342 Middle Grove Road, $95,000. Thomas Merrills, Jr. sold property to Joyce…
  • NYPA
  • Saratoga County Chamber
  • BBB Accredited Business
  • Saratoga Convention & Tourism Bureau
  • Saratoga Springs Downtown Business Association
  • Saratoga Mama