Luck Ain’t No Lady: 38th week the worst yet at Rivers Casino

LUCKNOLADYhonest  According to the NYS Racing Commission revenues page for Rivers Casino, its 38th week (ending October 29, 2017), was the WORST week yet for the Schenectady Mohawk Harbor Casino. That’s despite having the Ellis Foundation’s big Women’s Night Out “Luck Be a Lady” event there on October 26, preceded by a prep-day of Table Game education in September. Of course, we can only guess the effect of several weeks of Mayor Gary McCarthy appearing in ubiquitous (and, for many of us, tacky and dispiriting) Fuccillo Auto ads shot at the Casino. Nonetheless, last week’s, take, $2,039,456, was perilously close to dipping below the $2-million mark. 

plungegraphsmY DOLLARS. This comes after Gazette columnist Sara Foss called this week for a review of the inflated revenue projections we got from the three new casinos in New York State. While this site was temporarily called “Stop the Schenectady Casino”, we pointed out the practice of over-promising revenues. That included, as even the Gazette reported prior to endorsing the Casino, that “In Philadelphia, for example, SugarHouse was projected to generate $320 million in gross revenue its first year but only generated $212 million.” 

casinowalkers BODIES. We hope that Foss or another journalist will look into the promises Rush Street made about how many people the Casino would bring to Schenectady. It projected 2.8 million a year. The fact that we have never been given any attendance numbers past the first couple of days suggests that the projected body-count was another cynical exaggeration. 

 

red check For those readers who are wondering how, after the Gazette endorsement of Porterfield, Farley and Mootooveren for City Council, to choose between John Mootooveren and Mohamed Hafez when using their third vote, I’d like to point out the following, regarding each man and the Casino:

Incumbent Councilman John Mootooveren:

  • JMootooverenHas acted as if Schenectady were a Supplicant, and a Second-Rate City, during the casino license application process, and thereafter, rubber-stamping the Mayor’s Supine Schenectady position, giving the Casino applicants their every wish, while making no demands. In contrast, all other potential casino locations use their leverage, to assure additional income from the casino, including mitigating its added expenses for infrastructure, public safety, and social problems; seeking guarantees of minimum revenue payments; and demanding local preference for jobs, and a buffer period in which property assessments would not be challenged by the developer.
  • Never questioned any claim made by the Casino applicants prior to voting to approve their Application for a Casino License in Schenectady as to projected revenue and the absence of likely negative effects.
  • Never sought an independent study of potential negative effects and realistic benefits, despite his claims of financial expertise.
  • And, never questioned or challenged any of the drastic changes in our zoning ordinance, demanded by Rush Street Gaming and the Galesi Group. As a result, the Council and the Mayor took away the guarantee of public access in perpetuity to enjoyment of the riverbank when the harbor was developed, and the requirement that 10% of residential boat dock space be reserved during the day for the public.

In contrast, Candidate Mohamed Hafez:

  • MHafez Was a leader in the Stop the Schenectady Casino campaign, pointing out the many problems raised by locating a casino in an urban area and the need to fully consider likely problems and realistic benefits.
  • Demanded over and over, at City Council meetings, and in writing to the press, that the City use its leverage to demand/negotiate the best possible agreement with the Casino to maximize revenues and local employment, and minimize and offset added financial and social costs.
  • Wrote a letter to the editor we reprised here: “wise words from Mr. Hafez“; and
  • Asked the Mayor directly about host community agreements at a City Council meeting on May 11th, and at subsequent meetings, leading to the Mayor writing a guest column in the Gazette debunking the notion of having an HCA or needing to ask for any moneys in addition to required taxes, and our responding at length at this website. E.g., “the Lago Casino HCA and the Mayor.”

Empty Chair. One final note about the two candidates: Mohamed Hafez, a registered Democrat running on the Republican and IndependenceParty lines, attended every candidate forum during the current City Council election campaign. John Mootooveren, the incumbent Democrat who is 1/4th of the Mayor’s 4-person rubberstamp majority on the Council, failed to appear at the League of Women Voters forum, the Gazette Candidate forum at Proctors, the Woodlawn neighborhood association forum, and the Goose Hill Neighborhood Association meet the candidates event.

2 thoughts on “Luck Ain’t No Lady: 38th week the worst yet at Rivers Casino

    • Thanks for checking in, K. Denardo, and offering another viewpoint. I am not at all sure the method you are suggesting makes for good accounting. We have no way to measure whether the big win inspired a lot of other people or the winner to gamble (and lose) more. And, of course, those billboards saying Rivers is looking for Big Winners suggests that big winners do help the bottom line more than hurting it. Also, if you add in the $500K, it was still the worst week in two months, and ended its worst month ever.

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