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NY Racinos See Revenue Slip

Published: February 3, 2014 12:23 pm ET

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The New York State Gaming Commission is citing brutal winter weather conditions in January as the leading factor in the seven per cent decline in revenue that state racinos saw last month.

A report by the New York Post explains that the drop off in wagering – in comparison to January of 2014 – comes on the heels of a disappointing December.

“Unusually severe weather across New York state definitely had an impact on January’s VLT (Video Lottery Terminal, or slots) revenue figures,” commission spokesman Lee Park was quoted as saying.

“During January, there were 11 separate weather-related closings at VLT facilities across the state. This is significantly higher than previous years. Additionally, several race tracks had to cancel racing due to unsafe conditions.”

The revenue declines come as New York is looking to further expand brick-and-mortar gaming facilities in the state, which has current gaming operators worried.

(With files from the New York Post)

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