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Can success of Resorts World casino be copied? |
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Posted by Gold_12TH on Sun Apr 1 23:05:38 2012 Can success of Resorts World be copied?: MyFoxNY.com Since it opened in October, Resorts World Casino in Queens, overlooking Aqueduct Racetrack, has become a cash cow. Just ask the people who run it."Not even 5 months since we opened and we've raised our 100 millionth dollar for education here in New York State," said Stefan Friendman of Resorts World. The casino has about 1,500 employees, about 40,000 people walk through their doors every single day, and revenue for the state to the state alone is approximately $1 million daily. That kind of revenue has New York Gov. Andrew Cuomo pushing for plans to legalize full casino gambling. He also wants to build the largest convention in the world at aqueduct. "Just because aqueduct is doing well, it's not an immediate jump that this is going to be a success," said Nicole Gelinas of the Manhattan Institute. She said Cuomo's plans could backfire in many ways: the proposed convention center has no direct transportation and more casinos in New York may not mean more total revenue. "If you have one then obviously everyone has to go to that one," Gelinas said. "If you build 3 or 5 around the state, many people would rather go to one of those. So you may have the same revenue but split among different locations -- which doesn't really add anything for the state." Players at Resorts World acknowledged that they come here out of convenience. In fact some critics say that as a whole the casino business is hurting. The once successful Foxwoods in Connecticut is now $2 billion in the hole. With New Yorkers spending $3 billion to $5 billion a year out of state on gaming, officials are pushing to keep that money here. But proponents said without more research New York could easily end up with craps. --- http://www.myfoxny.com/dpp/news/can-success-of-resorts-world-be-copied-20120330#ixzz1qqev4YtQ |
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