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What you need to know for 09/26/2017

Net winnings at Saratoga casino drop 25 percent in Rivers' opening week

Net winnings at Saratoga casino drop 25 percent in Rivers' opening week

General manager sees Schenectady as 'direct competition'
Net winnings at Saratoga casino drop 25 percent in Rivers' opening week
Saratoga Casino Hotel in May 2013.
Photographer: MARC SCHULTZ

Net winnings at Saratoga Casino Hotel dropped 25 percent last week — the same week Rivers Casino & Resort opened about 20 miles southwest in Schenectady. 

For the week of Feb. 5-11, net winnings from the Saratoga casino’s video lottery terminals totaled $2.33 million, down $805,026 from the week before, according to the state Gaming Commission.

The Schenectady casino opened to massive crowds on Feb. 8 and was packed with visitors during its first weekend. The first week of gaming revenue from the waterfront casino, one of three sites awarded licenses by the state Gaming Commission in 2015, is expected to be released Friday.

Tom Wiedmayer, general manager at Saratoga Casino Hotel, recently told the Gazette he sees the new casino as “direct competition.” He was not available Thursday to discuss the latest numbers.

“They are going to be competing for the same gaming dollars we are in this market, and hopefully with the addition of Rivers, we’ll see our regional market base grow,” he said.

With the Schenectady casino opening Feb. 8, the week’s numbers include four days in which the Saratoga casino had a new competitor. A major snowstorm Feb. 9 that closed area schools and kept many people in their homes — and away from both gaming venues — likely contributed to the lower numbers. 

The latest week's winnings in Saratoga Springs dropped $533,844 from last year, when the week ending Feb. 13 produced $2.86 million in net winnings.

The Saratoga casino features 1,700 video lottery terminals, which include virtual table games added in recent years. Rivers Casino offers 1,150 slots, 67 gaming tables and a 15-table poker room. 

Net winnings at Saratoga Casino Hotel in 2017

Jan. 1-7: $3.46 million

Jan. 8-14: $2.94 million

Jan. 15-21: $3.24 million

Jan. 22-28: $2.82 million

Jan. 29-Feb. 4: $3.13 million

Feb. 5-11: $2.33 million*

*Rivers Casino in Schenectady opened Feb. 8

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