Schenectady's Rivers Casino falls short of projected goals for first anniversary
February 08, 2018 06:26 PM
SCHENECTADY - Rivers Casino in Schenectady is celebrating its one year anniversary.
Originally touted as a win-win for the area, the casino's numbers are not exactly matching up with the lofty projections made a year ago. So while there was a celebration, it was not all festive.
At the podium during the news conference, the CEO even mentioned a lower than projected performance at the casino.
Projected revenue was set between $181 million and $222 million. However, a year in and the most recent number on the New York State Gaming website lists revenue to date through December at about $103 million.
Management acknowledged the difference and was quick to point out the $53 million in taxes paid to New York state, the city of Schenectady and county of Schenectady.
They're also hopeful the completion of the adjacent harbor project this summer will help to make year two more successful.
"As soon as we got more retail, more restaurants, the apartment building I know is almost full –- a lot of our executives are living over there. It certainly will help a lot," pointed out Greg Carlin, the CEO of Rush Street Gaming.
The news wasn't all bad. There are 1,100 people who work at the casino. Also, the land where it was built used to be a brownfield.
Updated: February 08, 2018 06:26 PM
Created: February 08, 2018 11:34 AM
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