The four upstate casinos that started to open more than two years ago are still not meeting their initial revenue projections. Not even close in some cases.
And they are almost all mired in heavy debt after building massive resorts that may simply be too big for their markets.
But after a slow start, the four casinos are showing signs of improvement as they right size the number of slot machines they have, add sports betting and bring in new amenities to lure bettors from across New York and beyond, state records show.
“They are failing to meet their expectations, but their expectations were overblown, and I think purposely so so they could get the (casino) license” in 2014, said Assembly Racing Committee chairman Gary Pretlow, D-Mount Vernon.