Resorts World Casino At Aqueduct Breaking Revenue Records

In the first twelve months in operation, Resorts World Casino generated an unbelievable 630 Million dollars from video slot machines.  That’s more revenue than any of the Atlantic City Casinos, Foxwoods or Mohegan Sun in Connecticut.  This windfall for New York City is hurting traditional resort casinos with large hotels.  For example, Mohegan Sun, the worlds largest casino just announced plans to lay off 328 workers due to the new competition and the poor economy.  The reason for this success is simple, more than 5.6 million people live within ten miles of the casino.  It’s a short car or bus ride for most people who no longer have to travel two or more hours to lose their money. They can do it right where they live and not have to spend money on gas.  It’s a win-win for New Yorker’s and Long Islanders.  As a frequent visitor to Resorts, it’s a great alternative to taking the two and a half hour drive to Atlantic City, and that’s if traffic’s moving; longer if there are delays.  Add to that great restaurant choices and I can spend three or four hours there on a Saturday night and be home in ten minutes.  Resorts did an incredible job with this property and it’s paying the City of New York handsomely. “New York’s casinos currently pay the highest tax rate in the nation”.   It’s estimated that nearly sixty-percent of the revenue goes to the city.  Compare that to ten-percent in Atlantic City and Las Vegas and it’s not difficult to understand why Governor Cuomo wanted this project to move forward.  By law, “the bulk of the money, 44 percent or $3.3 billion since 2006, goes to education”.  Expect to see additional casinos being approved, with Manhattan already being eyed for a one billion dollar mega casino.

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