Genting Appoints Bob DeSalvio to Lead Resorts World in New York

The Genting Group, which owns and operates Resorts World, is having an extremely busy year. The company is currently working to open a massive new casino-resort in Las Vegas. This week, the company appointed Bob DeSalvio to officially lead Resorts World in New York. Bob DeSalvio

It’s exciting news for the company and its properties throughout New York. DeSalvio has decades of experience in the gaming industry. Let’s look at what Genting has planned for 2020.

Resorts World Catskills is Officially Sold

Genting Group owns and operates several major casino-resorts all over the world. Recently, the company has worked to break into New York. Genting purchased Resorts World Catskills recently and is already working to improve the property.

It isn’t the first New York casino-resort that Genting purchased. The company already owned the Resorts World Casino in Queens. Eventually, it was decided that purchasing a majority of stock in Resorts World Catskills would help to improve both venues.

It was an easy decision for Empire Resorts, the former owners of this casino-resort. Resorts World Catskills has faced bankruptcy for years. Genting Group’s purchase of the venue solved all of the company’s issues.

“We’re in a unique position where we can assist with the management of Resorts World Catskills through our Resorts World New York property at a low cost,” said Ed Farrell, President of Genting Americas. “We can bring synergies to both projects and by just operating at a higher scale, we’re going to be able to put the cost structure in a way that Resorts World Catskills can turn to black and we can make money going forward.”

Genting is clearly invested in New York. This week, the company revealed a new leader to oversee the New York operations.

Bob DeSalvio is the New Head of Resorts World in New York

It was expected that Genting would appoint someone with real experience to take over Resorts World in New York. There are now two of these properties operating, both of which have struggled to generate revenue over the past few years. An experienced leader to oversee the operations in this state could bring a major change.

That’s exactly what’s happening here.

Genting Group has appointed Bob DeSalvio to lead Resorts World in New York. He has more than 40 years in the gaming industry, including a stint as president of Encore Boston Harbor. Lim Kok Thay, board executive and Chairman of Genting Group, commented on why the company is bringing DeSalvio in.

“Bob DeSalvio has a proven track record creating and implementing successful marketing and growth strategies in the gaming and hospitality industries,” he said. “Bob’s operational expertise combined with his unique ability to recognise industry trends and adapt to fast-evolving consumer demands will help accelerate growth at Resorts World Catskills and Resorts World Casino New York City.”

It’s exciting news for gambling fans around the state. With Genting Group now investing in New York, the casino industry is set to improve dramatically.

Meanwhile, the company continues to construct the incredible Resorts World Las Vegas.

Resorts World Las Vegas Still Set to Open in 2021

Genting Group continues to work on Resorts World in Las Vegas. At the same time, it’s working hard to open Resorts World Las Vegas. This has been an extremely long project for the company due to several delays and lawsuits.

Construction is underway on this project, which is scheduled to open in 2021. It will feature more than 100,000 square feet of gaming space and more than 3,500 rooms for guests. It’s expected to cost $4.3 billion to construct, making it the most expensive development in Las Vegas history.

Recently, several new details about this casino-resort came out. We now know that it will feature a 5,000 square-foot theater and massive convention space. Previously, it was thought that the casino would have a unique Asian theme. Now, it’s being said that that this is no longer the case.

When it finally opens, Resorts World Las Vegas is expected to be one of the most amazing hotel-casinos in the city. Both tourists and residents can hardly wait until it opens!

Bob DeSalvio is expected to be a major asset leading Resorts World in New York. Stay tuned for more New York casino news over the next few months!

Sports Betting at Seneca Buffalo Creek Casino is Finally Here!

New York officially legalized sports betting earlier this year. In July, the first legal sports wagers were placed here inside Rivers Casino. Sports betting at Seneca Buffalo Creek Casino is now up and running, too!

Flag Of New York

It’s great news for sports fans in the Buffalo area. Today, we’re going to look at why it took so long for this casino to launch its sportsbook. We’ll also look at how the sports gambling industry is performing in New York right now.

Let’s get into it!

New York Continues to Expand its Sports Gambling Operations

Prior to the Supreme Court striking down PASPA, not may predicted that New York would ever legalize sports betting. In fact, lawmakers here seemed determined to shut down any forms of sports wagering here. Even daily fantasy sports was prohibited in this state!

New York was one of the few states to ban offshore online sportsbooks, as well. Most states without a regulated sports betting market simple turn their heads away from the betting sites based overseas. New York was active in banning them.

Once PASPA was removed, lawmakers here seemed to change their tune. New Jersey allowed sports betting and was earning millions of dollars a month from the industry. It was so popular in this state that many New Yorkers were crossing the border into New Jersey to place sports bets.

Now, sports betting is completely legal throughout the state. Most of the casinos here, the majority of which are located in the upstate area, offer sports gambling options.

There was even an attempt to make online sports betting legal in New York. Unfortunately, the bill was stalled in mid-2019. Hope is that it’s resumed again in 2020.

This week, one of the most popular gambling venues in the upstate area officially launched its sportsbook.

Sports Betting at Seneca Buffalo Creek Casino is Now Available

Buffalo is known for having one of the most passionate sporting fan bases in the country. Bills fans regularly make headlines for their antics. Unfortunately, there were very few options to make sports bets in this area.

That is no longer the case. This week, sports betting at Seneca Buffalo Creek Casino is becoming available. This signals a larger move for Seneca Gaming Corporation to break into the lucrative sports gambling market.

Seneca Buffalo Creek Casino is the first of the company’s three regional properties to open a sportsbook. Rickey Armstrong Jr, president of the Seneca Nation of Indians, is set to make the first legal sports wager in the casino today.

That’s not all. Soon, sports betting will become available at both the Seneca Niagara Resort & Casino in Niagara Falls and Seneca Allegany Resort & Casino in Salamanca.

All traditional forms of sports gambling are set to become available in this gambling venues. This includes betting on the NFL, NHL, NBA, and even collegiate sports. If you’re in Buffalo, make sure to check out the new sportsbook operating here!

NY’s Sports Gambling Revenue Drops in November

New York isn’t home to the most lucrative sports betting market in the country. That’s surprising to some, considering the state’s massive population. For several reasons, this industry just hasn’t taken off here.

In November, sports betting revenue in this state dropped by nearly 41%. New York State Gaming Commission (NYSGC) officially revealed November’s revenue earnings this week.

New York’s four commercial sportsbooks generated $1.3m in gross gaming revenue in November. This represents a 40.9% revenue drop from the month of October.

Rivers Casino in Schenectady was the most successful casino in terms of sports betting. Resorts World Catskills in Monticello came second, generating $549,230 in sports gambling revenue.

Sports betting at Seneca Buffalo Creek Casino is finally here. Hopefully, this venue manages to generate more money than the other casinos in the state.

Stay tuned for more US casino news over the next few months!

Resorts World Catskills is Set for a Major Change

The casino scene in Upstate New York is one of the most competitive in the country. Many casinos are currently operating here, some of which are struggling to generate revenue. Resorts World Catskills now has new owners and is bracing for a major change. New York Sign

This casino-resort is having a tough time bringing in money. Hopefully, these changes to this establishment turn things around. Let’s look at what the owners are saying.

New York’s Casino Industry Continues to Expand

For many years, lawmakers in New York pushed against gambling expansion. The state’s officials event worked to ban common forms of gambling such as daily fantasy sports. Recently, however, things have taken a major turn.

In 2013, the state approved commercial casinos. Within just a couple of years, four different privately-owned gambling venues opened in this state.

New York has also recently begun to embrace sports betting. In July of 2019, the first legal sports bet was placed here inside the Rivers Casino in Schenectady. As of now, only land-based sports betting is allowed here. It’s likely that mobile sports betting will become available in New York in the near future.

Many of the casinos in Upstate New York have struggled to generate revenue. The increase in competition here seems to be making things worse. Resorts World Catskills was recently forced to declare bankruptcy and was officially sold to a company based in Malaysia.

This week, the owners of this gambling venue announced what’s coming here.

Resorts World Catskills Owner Announces “New Chapter”

It’s been a tough road for this casino. Initially, it was expected to become one of the hottest casinos in New York. Unfortunately, it’s having a very difficult time bringing in players to the casino floor.

As we just mentioned, this casino was recently sold to the Genting Group. Ryen Eller, president and CEO of Genting Americas, commented on future plans for this venue.

“This marks a new chapter for Resorts World Catskills and is the first step toward fulfilling the promise and potential of New York’s most prized integrated casino resort destination,” Eller said. “By leveraging Genting’s extensive market knowledge, coupled with unrivaled play, stay, and dine facilities, Resorts World Catskills is well-positioned to increase performance and generate significant revenue for the region and New York state.” 

With backing from Genting, hope is that this casino manages to start producing better results. Owners say they do not expect any layoffs. That’s great news for the nearly 1,000 individuals working in this establishment.

New York Looks for New Ways to Generate Money From Gambling Industry

Most of the US seems to be interested in embracing the gambling industry. With the ability to legalize sports betting, every state seems to be taking a closer look at its current gambling regulations. New York is one of the states most actively working to generate more money from its gambling market.

Nearby New Jersey is considered the gold standard for US sports betting operations. This state legalized sports gambling in mid-2018 and is now earning more revenue from this industry than Las Vegas. Lawmakers in New York want to see similar results.

The 2019/2020 NFL season seems to be helping things. Rivers Casino, in particular, has been benefiting massively from the football season. It experienced record-breaking revenue figures at the start of the season and continues to rack in money.

Casinos in New York need to work on new ways to attract players. One idea that’s being passed around is for these gambling venues to work together, rather than against each other.

Resorts World Catskills has new owners. Let’s see how this affects the gambling venue’s performance heading into 2020.

Stay tuned for updates over the next few months!

Upstate New York’s Casino Market Continues to Improve

New York is beginning to truly embrace the gambling industry. For much of 2019, lawmakers have worked on ways to bring in more revenue from the gambling industry. Upstate New York’s casino market is expanding rapidly and competition is fiercer than ever before.  New York State Logo

There’s a lot to be excited about in this state. Today, we’re going to look at what new gambling options are now available in New York. We’ll also look at how casinos are responding to this rise in competition.

New York’s Recent Embrace of the Gambling Industry

New York hasn’t always been a gambling-friendly state. In fact, for many years, lawmakers here laid out several laws that suppressed the gambling industry. Even daily fantasy sports, which is legal in many states as a “game of skill” was prohibited by lawmakers here, who believed it to be a form of sports wagering.

Things have begun to change here. In case you’re unaware, the US Supreme Court struck down PASPA in May of 2018. Now, every state in the country has the ability to set laws on sports gambling.

Certain NY government officials immediately began calling for the state to make this form of wagering legal. Nearby New Jersey was the first state post-PASPA to legalize sports betting and immediately began making millions of dollars a month. A sports betting bill was approved by New York Governor Anthony Cuomo earlier this year.

In July, the first legal sports wager in New York was placed at the Rivers Casino in Schenectady. Now, sports betting is legal inside brick and mortar casinos around the state. Many are profiting massively from the current NFL season. Legal sports betting isn’t the only new form of gambling available in New York, though.

Not long ago, state legislators also approved commercial casinos to operate in New York. These new gambling venues, along with tribal casinos, is helping to make Upstate New York’s casino market one of the most competitive in the country.

Upstate New York’s Casino Market is Growing Quickly

There are now many different tribal and commercially-run casino venues in New York’s Upstate area. Competition in this industry has never been higher. These gambling establishments are working extremely hard to out-do each other. One of the most popular casinos in this area just won a prestigious award.

The Del Lago Casino, located in Tyre, recently gained several awards from Casino Player and USA Today. Casino Player magazine asks its readers to name the “best of the best” casinos in the country every year. Del Lago Casino was awarded for having the best hotel staff, best suite, best craps, best roulette, and best VIP services.

It’s an impressive accomplishment for this gambling venue. Lance Young, executive vice president of the casino, commented on the awards to the media this week.

“We are incredibly grateful for the 11 awards we received from Casino Player, especially because the honors were submitted by readers who are also del Lago guests,” he said. 

There are some exciting new venues entering Upstate New York’s casino market. This week, Hilton has announced that it’s constructing a new hotel on land adjacent to the Turning Stone Resort Casino in Verona.

Unfortunately, not every casino in this state is flourishing. Several have struggled to generate revenue amid the rise in competition. Recently, several of these casinos have begun calling for online gambling to be made legal here.

Casinos Begin Calling for Online Casino Gambling Regulation

With so many different gambling venues in Upstate New York, it’s been difficult for many of these casinos to bring in the money they initially projected. As a result, officials at many of these casinos have begun calling on lawmakers to make internet casino gambling regulated.

New Jersey began regulating its internet casino market last year. It’s extremely successful, helping to bring the state millions of dollars every single month. In fact, more people are gambling online here now than playing inside land-based casinos.

Interestingly, there are many different online casinos in NY available right now. The state government does not regulate these websites, yet they’ve grown extremely popular over the years, particularly for those located far from the Upstate area.

Many of these websites offer just as many different gambling options as the state’s brick and mortar casinos. The majority of them are extremely safe and offer their players a wide range of easy payment options.

Upstate New York’s casino market is growing. With that growth comes a rise in competition. Hopefully, all of the casinos here manage to generate more revenue. We’ll need to wait and see whether or not lawmakers choose to make online casino gambling legal.

Make sure to stay tuned for more casino news in New York over the next few months!

New York’s Casino Dispute With Seneca Nation Continues

New York’s gambling industry is expanding rapidly. Not long ago, this state approved plans to allow additional casinos and sports betting operations. Unfortunately, New York’s casino dispute with the Seneca Nation is still ongoing.

Andrew Cuomo

Lawmakers in New York are in a bitter disagreement with the Seneca over casino tax payments. Today, we’re going to look at what this dispute is all about. We’ll also talk about what state officials are doing to end it.

New York Lawmakers Approve Gambling Expansion Plans

In the past, New York was known as one of the least gambling-friendly states in the US. Lawmakers here showed very little willingness to open any form of gambling aside from tribal casino gaming. Over the past two years, however, state officials have begun to change their stance.

Several bills were presented here to significantly expand the state’s gambling industry. Much of these expansion plans focused on sports betting. With PASPA now gone, every state can set its own laws on the sports gambling industry. Several New York politicians began actively campaigning for sports betting to be made legal.

The state approved a sports betting bill in June. On July 16th, the first legal sports wager in New York was made by Gary Pretlow, a state lawmaker instrumental in getting this industry legalized and regulated. Today, most of the state’s casinos operate land-based sportsbooks. It’s proving to be an extremely lucrative industry, bringing in major revenue earnings through taxes.

In April, New York lawmakers also approved plans to add several new casinos to the upstate area. Several popular casinos already operate in this area, including Resorts World Catskills, which was recently sold to investors in Malaysia. Now, both tribal and commercial casinos are operating here. Online casinos in NY are still unregulated.

Unfortunately, officials are engaged in a major dispute with one of the largest tribal casino operators in the state.

New York’s Casino Dispute with Seneca Nation, Explained

For years, the Seneca Nation has operated a casino in Salamanca. Since first opening, this casino has been required to pay a 25% tax fee to the state on its revenue from the Class II bingo games it was able to offer. In March of 2017, the casino was given a Class III gambling license, granting it the power to offer slots and table games.

The tribe now believes that it’s no longer required to pay the 25% tax fee. Tribal leaders argue that this tax fee was only required from the Class II license. The Tribe believes that there was no provision stating that the revenue sharing would continue.

State officials obviously disagree. An official arbitration panel quickly ruled that the tribe owed $255 in back payments. The Seneca Nation is now working to fight this ruling in the courts. Unfortunately, this dispute is showing no signs of slowing down anytime soon.

It’s taking a toll on the city of Salamanca, which relies on revenue from the casino to operate. Now, state officials are working on ways to help this city out.

New York Sends Salamanca $2.35 Million in Revenue Relief

New York’s casino dispute with the Seneca Tribe has been going on for years. During this time, the tribe has sent no money to Salamanca, where their casino is located. It’s a major disappointment for this city, which uses the money to fund social projects.

Government officials in New York have sent a check to Salamanca for $2.35 million. This city generally receives nearly $5 million in annual revenue from the Seneca casino. Kathy Sarver, City Comptroller of Salamanca, states that the rest of the money would also come from the state if the tribe does not agree to pay.

“If it is settled, then there won’t be any need to advance us any money because we’ll be getting the payments from the casino,” Sarver said. “It’s just an advance. If and when the casino compact issue is settled, we’ll have to pay the state back this money.”

It’s unclear exactly when this fight will end. Both the tribe and state officials believe that they are in the right.

Make sure to stay tuned for more updates to New York’s casino dispute with Seneca Nation over the next few months!

Plaza Hotel & Casino is Offering an Exciting New Promotion!

One of the most popular hotel-casinos in Downtown Las Vegas is offering a great new promotion. The Plaza Hotel & Casino has announced that it’s giving casino players the opportunity to win a vintage slot machine. It’s exciting news for both tourists and locals in Las Vegas. Plaza Hotel & Casino In Las Vegas

Today, we’re going to look at the details of this new promotion. We’ll also look at some more of the best casinos in Las Vegas to play slots. Let’s get started!

Plaza Hotel & Casino Announces New Slot Promotion

Downtown Las Vegas is experiencing somewhat of a resurgence right now. In the past, this part of the city was avoided by many tourists. Recently, several major projects have begun to transform this area.

One of the most popular gambling venues here is the Plaza Hotel & Casino. It opened all the way back in 1971 and features an incredible 80,000 square-foot casino floor. The Plaza has an extremely loyal fan base, many of whom love the casino for its wide range of gambling options and cheap tables and slots.

This week, the Plaza Casino announced a brand new promotion. Soon, players here will have the chance to win a vintage coin-operated slot machine. The promotion comes as the casino takes these slots out of service.

In order to win one of these machines, players need to win a weekly Tuesday video poker tournament or finish in the top eight of a Royal Plaza Rewards points challenge. Jonathan Jossel, who recently took control over the Plaza Hotel, commented on the new promotion to the media this week.

“Over the years, these machines have become harder and harder to maintain,” he said. “It’s remarkable how popular they are with people, though, so we thought it would be fun to have a promotion.”

More details of this promotion will come out soon.

Top Slot Casinos in Las Vegas Right Now

It’s likely that many people will hit the slot machines at the Plaza Hotel & Casino in hopes of winning one of these vintage machines. Those who prefer to stay on the Strip also have access to some incredible casinos featuring hundreds of different slot games. Below are some of the very best Las Vegas casinos to play slots in right now.

Cosmopolitan Hotel & Casino

The Cosmopolitan Hotel & Casino remains the most expensive hotels ever built in Las Vegas. Fortunately, that doesn’t mean gambling here will break the bank. The Cosmo is home to a wide range of different slot games catering to all different budgets.

Patrons here can find a variety of great penny slots. Some of the most popular are the Luck o Lantern and Record Jackpots slots. There are also several fantastic progressive slots here that allow you to win major jackpots over time.

The Cosmopolitan also features one of the best high roller slot games that you will find today. There are many slot machines here with maximum bet allowances of $500. Make sure to check out this casino if you’re spending time on the Strip!

Caesars Palace

Caesars Palace might be the most iconic hotel-casinos in Las Vegas. It’s an incredible venue featuring some amazing hotel suites and an amazing casino floor. It was constructed back in 1966 and has gone under a series of major renovations over the years.

This is without a doubt one of the best Las Vegas casinos to play slot games in. The 124,000 square-foot casino floor features a huge number of incredible slots. There are also some amazing video poker games available here.

There’s a reason Caesars has been featured in so many famous movies. It’s one of the coolest-designed hotel-casinos in this city. If you’re a slot fan, you’ll love this venue.

Wynn Las Vegas

Not long ago, Wynn Las Vegas was named the best casino in Las Vegas. As you might expect, this is also considered by many to be the best place to play casino games in the city. There are countless different slot gaming options here.

You can find a massive list of different gambling options here. Much like the Cosmopolitan, there is a great high roller slot area here that allows you to win huge massive jackpots.

Wynn Las Vegas is great in every single way. There are enough gambling options here to keep you busy for days. Feel free to check out the many incredible restaurants in this hotel, as well!

If you’re interested, make sure to play at the Plaza Hotel & Casino for your chance to win an authentic vintage slot game. Stay tuned for more updates to this promotion over the next few weeks!

Rivers Casino & Resort in NY Benefits From NFL Kickoff

The 2019/2020 NFL season is now officially underway. It’s an exciting time for sports betting fans around the country, many of whom now have access to state-regulated sportsbooks. The Rivers Casino & Resort in NY is reporting record sportsbook earnings thanks to NFL bettors.

NFL Logo In Black And White

It’s not a major surprise to see sportsbook earnings increase right now. The NFL remains the most popular sports league in the US. Let’s look at exactly how much the Rivers Casino sportsbook has earned, and what other states are earning money through the sports betting industry.

NFL Betting Brings Rivers Casino & Resort in NY Major Revenue Earnings

Immediately after PASPA was struck down in May of 2018, lawmakers in New York began taking a close look at the sports betting industry. It was a surprise to see this state interested in sports gambling, as politicians here had actively campaigned against legalizing daily fantasy sports for years. On July 16th of this year, the Rivers Casino & Resort in NY offered its very first sports wager.

Today, sports betting is now allowed in several New York casinos. Under the current set of laws, mobile sports betting is banned in New York. Many gambling analysts feel this will change in the next few years.

Rivers Casino is one of the most popular casino and sports betting venues in the state. Officials at this casino are now claiming that the NFL kickoff is helping to bring in record revenue figures. Justin Moore, general manager of Rivers Casino, stated that the start of the NFL season is bringing in more bettors than expected.

“Today is by far the biggest volume we’ve seen since the sports book opened,” he said. “We’ve never had a line for kiosks. Huge demand today. It’s really exciting.”

This casino’s sportsbook features seven live betting windows and 14 automated betting kiosks. There’s also a 53-foot wide wall featuring a giant screen that plays all major sports games at the same time. Based on the way things are going, this year’s NFL season is going to bring in serious money for Rivers Casino.

Other States Profiting Off the Sports Betting Industry

New York isn’t the only state cashing in on the sports betting industry. Today, 13 states have live sports gambling options available. Six more have approved sports betting bills and will officially launch sportsbooks within the next few months. It’s an extremely profitable industry for many of these states.

New Jersey is considered by many to be the hottest new sports gambling market in the US. This was the first state to legalize sports gambling after PASPA was removed. Today, every casino in Atlantic City operated a land-based and online sports betting platform. The state earns millions of dollars annually through its sports betting market.

Pennsylvania also recently launched its first regulated sports betting options. This state is working to significantly expand its gambling market, with several new mini-casinos set to open in various cities. Nearly $25 million has already been spent on sports wagers here, bringing the state more than $8,800,000 million through taxes.

A huge number of states currently have pending sports gambling legalization bills. Politicians across the country recognize how much revenue this industry can bring in. It’s very likely that within the next few years, every state in the country will allow sports betting.

Fortunately for the state without regulated sports gambling options, there are still some great ways to make bets. Today, there are fantastic online sportsbooks available throughout the entire country.

Online NFL Betting Options in the US

The US sports betting industry has never been stronger. Even in states without regulated sports betting options, individuals are choosing to make wagers online. There are some great internet sportsbooks available in every single state, one of the most popular being Bovada.

There’s a good chance you’ve heard of Bovada. This site launched years ago and is now one of the most respected sports wagering companies in the country. It offers a huge range of amazing odds and safe payment options for all members. There are several NFL betting options at Bovada that you can wager on right now.

On Thursday, several teams will compete in their second game of the season. One of the most popular games to bet on is taking place between the Seattle Seahawks and Pittsburgh Steelers. The Seahawks are entering as the underdogs with current odds of +165. Pittsburgh comes in as the favorites with odds of -190, according to Bovada.

Feel free to check out our review of Bovada today. We dive into everything that’s available here. You can also look at the full list of NFL betting options.

It’s great to see Rivers Casino & Resort in NY profiting off the NFL season. Hopefully, other New York casinos can also begin to see their sports betting profits increase this year.

Make sure to stay tuned for more US sports betting news over the next few months!

Resorts World Catskills is Officially Selling to Avoid Bankruptcy

The biggest casino in upstate New York is officially getting new owners. Empire Resorts, which runs Resorts World Catskills, has confirmed that the casino is being taken over by investors who hold a majority of the company’s stock. It’s an interesting development for New York, which is in the middle of revamping its gambling industry. Flag Of New York

Many gambling analysts predicted that Resorts World Catskills would be sold. Today, we’re looking at what’s happening in New York’s casino scene, and what this sale means for the casino moving forward. Let’s get into it!

New York’s New Gambling Laws, Explained

For many years, New York had very restrictive laws on the gambling industry. Casino gambling was banned here until 1988 when the government passed the Indian Gaming Regulatory Act. Lawmakers in New York began allowing Native American Tribes to operate casinos in the state, most of which opened in the Upstate New York area.

In 2013, New York passed the Upstate New York Gaming Economic Development Act. This allowed for commercial casinos, or casinos not operated by tribes, to open in the state. Four of these casinos are now operating here, including the Resorts World Catskills.

New York has been against the sports betting industry for years. Governor Anthony Cuomo even worked to ban daily fantasy sports, which are considered a game of skill in most parts of the country. Recently, however, sports gambling in New York was legalized.

Efforts to make sports betting legal in New York have been going on since PASPA was struck down in May of 2018. In June of this year, lawmakers agreed to a set of new regulations that allow sports betting to take place inside casinos. Several New York casinos now offer sports betting and several more are set to open sportsbooks over the next few months.

Unfortunately, several major casinos in this state have struggled to generate revenue this year. The biggest casino in Upstate New York is now changing hands.

Resorts World Catskills is Officially Changing Hands

Casino competition in the Upstate New York area is fierce. Just about all of the state’s casinos are located here, some of which are proving to be more successful than others. The largest one has faced continual losses over the past several years and is now officially being taken over.

Resorts World Catskills was operated by Empire Resorts, one of the top casino operators in the New York area. This publicly-traded company lost $73 million in the first six months of 2019. It has also accumulated more than $400 in total debt. As a result, it’s selling some of its largest properties.

Investors from Malaysia currently own 86% of Empire Resorts. On Monday, officials at Empire Resorts announced it was selling the rest of its stock to the investors for $9.74 per share. The official sale will finalize at the end of the year’s fourth quarter, after which Empire Resorts will become a privately owned company.

The Catskills casino failed to meet all revenue projections after its opening in 2018. Let’s look at what this all means for the future of the casino.

Future of Catskills Casino and New York’s Gaming Industry

The sale of the casino in Catskills isn’t the only major casino handover taking place in New York. Last week, Del Lago announced that 50% of its casino was being sold to investors in California. The Del Lago casino has also failed to meet revenue projections set by the state when it opened.

It’s unclear exactly what will happen with Resorts World Catskills. This casino is now changing hands. Hopefully, they work to revamp the gaming establishment and increase its revenue earnings. Most agree that sports betting can help bring more money to these New York gaming venues.

Sports betting has proved extremely profitable for many states. New Jersey is earning millions of dollars each month through this industry. There’s also a chance that lawmakers in New York decide to regulate internet casino gambling.

There are several great online casinos in New York. Most of them offer a huge range of great gaming options. Unfortunately, the state works hard to push these casino websites away. Regulation of this industry will likely help the land-based casinos bring in more money.

Make sure to stay tuned for more updates over the next few weeks. We’ll continue to provide information on the state of New York’s casino industry!