![]() ![]() When selling the Schenectady Casino to the Racing Commission and the public, Rush Street (and Mayor Gary McCarthy) projected payment of $4.1 million each (22% more) to the City and the County once revenues stabilized. Nonetheless, the payment of $191,991 for the 22-day partial month of February would result in an annualized total of $3,185,305. The average daily GRR for the opening weeks in February were, however, significantly higher than the daily average since then. Rivers also reported its Revenue Tax distributions for February 2017, showing that Schenectady County and the City of Schenectady each received $191,991 as their home community share of revenues paid to the State.(Compare the figures reported Maby the Times Union’s Eric Anderson, here and click here for our prior revenue coverage) While Rivers Schenectady saw a significant decline, revenues at nearby Saratoga Casino edged up 1.8% to a Net Win of $2,858,905. ![]() The 19.8% fall in revenues, down to $2,897,721, was the largest to date at the Casino, which opened February 8. For the fifth time in six weeks, week-to-week net revenues at Rivers Casino in Schenectady declined last week.
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