Thursday, August 6, 2015
Busy month means major net win for Tioga Downs
Casino awaits license decision, prepares for expansion
Nichols, N.Y. – August 6, 2015 – Tioga Downs Casino has proven a popular destination this spring and summer, with a major boost in revenue coming this past month. Since April 2015, the casino has reported a net revenue increase each month when compared to 2014. The net revenue refers to the amount remaining with the casino after payout of prizes to players. The sharpest increase came in July 2015 when Tioga Downs had a net win of about $5.3 million, which reflects a 10.4 percent increase from a year earlier, when the net win was $4.8 million.
“These numbers tell us people are visiting the casino at a much greater rate than last year,” said owner Jeff Gural. “We thank the community for this increased support, and we await the opportunity to expand as soon as a full gaming license is granted.”
Tioga Downs resubmitted an application to the state gaming commission in an effort to acquire the last remaining full gaming license in New York. The casino has announced its readiness to begin expansion work, pending regulatory approval, to make as much progress before winter as possible.
Currently, Tioga Downs generates approximately $60 million dollars in annual slots revenue. Once an expansion is complete, a 75% increase in net gaming revenue in 2018 is expected, pumping additional tax and philanthropic dollars into the community.
Tioga Downs and Gural are known for their commitment to a number of charitable causes, particularly those related to veterans of the armed forces as well as the Food Bank of the Southern Tier that help feed those less fortunate within the region.
Tioga Downs offers live harness racing, video lottery terminals, video poker and electronic roulette. A variety of eateries are also part of the entertainment complex. Jeff Gural owns Tioga Downs in Nichols, NY and Vernon Downs in Vernon, NY. Tioga Downs is the lone bidder for the state’s final full gaming license in the Southern Tier region. Once awarded, Tioga Downs will expand its facility and workforce to accommodate live casino gaming. In the last decade, Tioga Downs and Vernon Downs have created more than 700 family-sustaining jobs. For more information on Tioga Downs, please visit www.tiogadowns.com.