New York State: Bailing Out Racinos!

If you're GAMBLING at 4 AM, how is that 'HARMLESS ENTERTAINMENT'?

This is why REPEAL THE CASINO DEAL is the only reasonable solution!

Bill would allow racinos to stay open longer hours

By Julio Olivencia
Staff reporter

July 03, 2014

A bill aimed at helping the state's nine racetrack casinos would allow them to stay open until 6 a.m. and increase incentives they can offer customers.

The bill (A.10075/S.07833) increases the amount of free play credits the casinos can offer and changes the time casinos must close from 4 a.m. to 6 a.m.

"There are weekend nights when we have a few hundred people on the floor when we close," said Taryn Duffy, spokeswoman for Empire City Casino in Yonkers, explaining the need for the change.

The bill, sponsored by Assemblyman Phillip Goldfeder, D-Rockaway, is an attempt to help the so-called racinos improve declining profits.

According to Vernon Downs minority owner Gary Greenberg, the nine rasinos made $2.5 million less the week ending on June 28 than it did the same week last year.

"June 2014 is the seventh consecutive month net win has slumped," Greenberg said in an email. "June saw net win for nine racinos decline a severe $11,446,409. This is the largest decrease in any month in VLT history in New York."

The casinos are looking forward to the potential free play increase.

The amount of tax-free free play credits a casino can offer their customers is currently capped at 10 percent of their annual income. The new legislation would increase this to 15 percent.

"Free play is the only marketing tool that we have," Duffy said. She likened free play to a coupon the casinos can give their customers.

The change in closing time, on the other hand, is not as widely anticipated.

Smaller casinos most likely won't extend their hours as the amount of their business won't justify the increased operating cost, according to Jeff Gural, CEO and Chairman of American Racing & Entertainment LLC which owns Tioga Downs Casino. Tioga Downs currently closes at 3 a.m. and there is no plan to change.

Greenberg said Vernon Downs may extend their hours on weekends and holidays, but definitely wouldn't during the week.

Duffy said Empire City Casino, which is larger than Tioga Downs and Vernon Downs, will explore "what makes sense operationally" and adjust as needed.

The bill, sponsored by Sen. Jeffrey Klein, D-Bronx, was passed in the Assembly on June 19 and passed the Senate June 20. It awaits action by Gov. Andrew Cuomo.




http://www.legislativegazette.com/Articles-Top-Stories-c-2014-07-03-88497.113122-Bill-would-allow-racinos-to-stay-open-longer-hours.html