Aqueduct brings in millions in revenue: Racino operator

Thousands of people fill Resorts World Casino New York during its opening day. The casino made more than $1 million a day in its first nine days of operation. Photo by Christina Santucci
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The new Aqueduct racino made more than $1 million a day in the first nine days of operation, according to the company’s latest financial report.

More than $176 million from gamblers was pumped into the racino’s 2,486 video lottery terminals and electronic table games during that period.

Gamblers won more than $163 million, giving Resorts World Casino New York a profit of more than $13 million — and that does not include money spent on drinks, dining and parking.

In the first three days, gamblers wagered more than $37 million and won more than $34 million, netting a profit that exceeded $3 million for the racino.

In those three days, Resorts World made $618 per video lottery terminal.

“While we’re fully aware that our results will eventually stabilize, this overwhelmingly successful opening was due in large part to the hard work of Resorts World’s 1,200-person management and staff; the 1,300 construction workers who labored tirelessly over the last year to get the facility ready; and the $880 million that we invested in the project — $150 million more than indicated in our initial bid — to ensure that Resorts World New York City would be one of the most elegant and successful facilities in the country,” said Resorts World President Michael Speller in an e-mail.

About 65,000 people patronized the racino during its opening weekend.

In the next six days, the machines earned $585 each for the racino.

More than $138 million was wagered in those six days, with gamblers winning more than $128 million — giving Resorts World a better than $10 million profit.

Before the Oct. 28 launch of Resorts World, the company said it expected to bring in $1 million a day for state revenues.

It was unclear how much profit the company was expected to post.

Besides the VLTs, Resorts World features a bar, three-story indoor water show and dining options.

The casino, the first of its kind in New York City, is open from 8 a.m. to 4 a.m. seven days a week.

Resorts World is expected to file financial reports once a week and once a month.

Reach reporter Howard Koplowitz by e-mail at or by phone at 718-260-4573.

Posted 12:27 am, November 17, 2011
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