The Aqueduct racino has become the nation’s biggest generator of revenue from slot machines, according to a report issued Monday by racino-operator Resorts World New York.
Resorts World New York, citing just-released monthly figures, reported that its video slots at Aqueduct generated gross gaming revenues of $57.5 million in May, outpacing second place Mohegan Sun at $55.4 million.
The Aqueduct racino generated $40 million – about 70% of the total revenue – to fund education, horse racing and other state operations, according to Resorts World.
"Resorts World’s model has maximized gaming revenue for New York State in a manner that has not been replicated by any other facility in the nation,” said Michael Speller, President of Resorts World Casino New York City said in a press release.
Resorts World is controlled by Malaysian gambling giant Genting.
“We are proud of the incredible revenue Resorts World has generated to support the education of New York’s students and the more than 3,000 jobs we have created for hard-working New Yorkers,” Speller said.
The figures come as Gov. Cuomo and state lawmakers continue to press for the legalization of full-fledged casino gaming in the state.
They also come after the collapse of talks between Cuomo and Genting over the construction of a convention center/casino at Aqueduct, prompting Cuomo to seek other offers to build such a facility in New York City.
Genting and other racino operators, while supportive of the push to legalize casino gambling, have argued for exclusive rights to operate casinos in the state – a position Cuomo opposes.
“This is a partnership that works, and as the State considers a referendum to permit table games, it should ensure that the current high tax base is not eroded,” Speller said in his release. “Resorts World looks forward to pursuing additional opportunities in the future to generate even more revenue and create thousands more jobs for New York.”
According to Resorts World, the $40 million received by the state from the Aqueduct racino in May far exceeded the amounts other states collect from gaming operations.
The 41 Las Vegas Strip casinos contributed about $30 million to Nevada in April and the 12 casinos in Atlantic City paid $18.3 million to New Jersey, Resorts World reported. Mohegan Sun and Foxwoods Resort Casinos together generated $28 million for Connecticut in May.
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