Gaming News

Empire Resorts wants larger cut of gaming revenue

MONTICELLO, New York – As reported by the Times Herald-Record: "…At the 1,500 video gaming machines at Monticello Gaming & Raceway, the [Empire Resort's] take declined 13 percent, or $2.2 million, in the first three months of the year as compared to the same period in 2006.

"…Empire's plunging VGM revenue is the fault of the new slots-only Mohegan Sun casino outside Wilkes-Barre, says Cliff Eurlich, the senior vice president of operations for Empire Resorts.

"The competition is only going to get tougher in November, when a casino resort opens in Mount Airy, about two hours away in the Poconos.

"…Aside from battling head-to-head against flashier casinos in Pennsylvania with Las-Vegas-style slots, New York's racinos also get to keep less of the money than their competition.

"…Empire gets 32 percent of the take, of which 8½ percent is paid to the horsemen.

"…In Pennsylvania, which has one of the toughest tax structures for racino operators, the casinos get to keep about 45 percent.

"…The bill, sponsored by state Sen. William Larkin Jr., R-C-Cornwall, and Assemblyman Bill Magee, D-Nelson, would mean that the track would receive 40 percent of the take, and would get 10 percent — up from 8 percent — for marketing and promotions. The bill would also return 4 percent (or a maximum of $3 million annually) to the operator to make improvements to the attraction…"

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