In 2017, when New York’s new Las Vegas-style casinos were more than $350 million off their initial revenue projections, the state Gaming Commission cautioned not to rush to conclusions about the health of the industry.
The state said at the time that it takes at least three years for a casino’s business to stabilize.
Revenues have increased at the three casinos open since 2017: del Lago, Rivers and Tioga Downs. But as the venues enter their third year, the casinos are still coming up $203 million short of what they told the state they would be making when they applied for their licenses starting in 2014.
The disparity is largest at del Lago Resort and Casino in…