Friday, January 13, 2012

Revenue up at Tioga Downs in 2011


American Racing and Entertainment, which operates two Racetracks and Casinos in Upstate New York, showed impressive gains in numbers in 2011 at both Tioga Downs and Vernon Downs.

Tioga Downs posted a 9.8% increase in casino credits played ($66.5 million) for 2011 when compared to 2010, with net revenue for the casino up 7.5%, or $4 million dollars.

The food and beverage numbers at Tioga Downs also saw a large increase, due in part to a $5 buffet promotion held the last quarter of the year.

The Food and Beverage number closed out 2011 with a 7.7% increase.

The Tioga Downs gift shop showed the largest increase in business in 2011 with a 92.7% increase over 2010.

Vernon Downs also posted strong increases in business in 2011 with casino credits played at the upstate casino increasing 14.1% ($64 million) over 2010, with net revenue for the casino posting a 2.6% increase in business, good for $1.1 million dollars.

The Food and Beverage department also posted strong gains in 2011, increasing business 18.3% over 2010.

Vernon Downs also had traffic at the property increase sharply during 2011, with attendance being up 11.6% over 2010.

Vernon Downs' significant increases in casino play were helped with the addition of the tax-exempt free play program that began in April 2011.

Also driving business in 2011 for Vernon Downs was the opening of the $8.9 million hotel expansion that included a multi-purpose convention space for concerts, weddings, catering, and receptions, along with a new state-of-the-art simulcasting facility and the luxurious Mr. G's Food and Spirits restaurant.

Tioga Downs Casino is open year-round with video gaming machines, simulcast horse racing, restaurants, a sports bar and special entertainment events.

It is located along the north side of NY Route 17/ I-86, two miles west of exit 62 in Nichols, NY.