Racinos Buck the General Casino Trend

With traditional casinos around the US struggling to maintain revenues through the recession, racinos, like Empire City Yonkers are going great guns.

The big name casinos in Las Vegas and Atlantic city have certainly not been immune from the headwinds of the current economic downturn. Figures from the American Gaming Association reveal and 5% fall in year on year annual revenue across all member casinos in both the last two fiscal years. This bucks the conventional wisdom that casinos thrive in recessions.

But there is at least one casino that is thriving. Empire City, the Yonkers raceway casino (or 'racino') posted net revenues of $499 million in the financial year to March 31, representing at substantial 15% increase on the previous year.

Empire Casino opened in October 2006 with an extensive video slots range. The venue houses over 5000 slot machines varying from penny to $100 games and seems to won have over its many patrons (most in their senior years) as an entertainment option they aren't willing to do without despite the recession.

"We don't go on vacation. This is our entertainment. It really is for the enjoyment," says one patron.

It is one of 8 racinos in New York State - one of 12 states in the US that allow casinos at raceways. And while Empire City's results are a standout, the general trend seems to be that racinos are fairing better than their Las Vegas and Atlantic City counterparts.