Rivers Casino & Resort Schenectady Submits $50 Million Gaming License Fee
Fee translates to $10 million for local governments
SCHENECTADY, NY —Rivers Casino & Resort Schenectady submitted today a $50 million gaming license payment to the New York State Gaming Commission.
Under New York State’s gaming law, a portion of the fee will be distributed to local governments. The City and County of Schenectady will each receive a payment of $2.5 million. Additionally, $5 million will be distributed among surrounding counties in the Capital Region.
Rivers Casino & Resort will be operated by Rush Street Gaming, which operates award-winning casinos in Philadelphia, Pittsburgh and Des Plaines, IL (outside of Chicago).
“Rush Street Gaming is looking forward to adding Rivers Casino Schenectady to its growing portfolio of successful regional casinos,” said Rush Street Gaming CEO Greg Carlin. “With our construction partners hard at work, we are on track for an early 2017 opening which we believe will be a catalyst for significant economic development in the capital region.”
“Rivers Casino & Resort will create millions of dollars in tax revenue for the State of New York and the Capital Region. We’re proud to mark the start of that relationship today,” said Rivers Casino & Resort General Manager Mary Cheeks. “We are also moving forward with our hiring process to bring hundreds of good-paying jobs to the Capital Region.”
“Today marks yet another positive development for the City of Schenectady. The revenue generated by Rivers Casino & Resort will have a real impact on our budget, and help us provide more services and lower taxes to our residents,” said Schenectady Mayor Gary McCarthy. “In fact, I fully intend to apply this payment to our fund balance and use it toward property tax relief.”
“This is another step forward in the development of Rivers Casino & Resort, and our goal of creating over a thousand new jobs and generating millions of dollars in tax revenue each year for Schenectady County, the City and our local school districts,” said Anthony Jasenski, Chair of the Schenectady County Legislature. “Thank you to everyone who has helped to bring this project home, especially our partners at Rush Street Gaming and the Galesi Group.”
Rivers Casino & Resort recently announced the posting of select positions to www.riverscasinoandresort.com/employment. Hiring for the hundreds of jobs at Rivers Casino & Resort will occur in stages over the coming weeks and months. Rush Street Gaming’s casinos have all been named a 2015 “Best Place to Work” or “Top Workplace” by their team members.
Rivers Casino & Resort is a $330 million project that will have a 50,000-square-foot gaming floor with 1,150 slot machines, 63 gaming tables and 16 poker tables attached to a 163-room hotel and a 10,000-square-foot banquet facility capable of hosting up to 600 people for conventions and special events, one of the largest spaces in the region. Additionally, the property will have a steakhouse, a marketplace with light fare eateries, an entertainment lounge and a day spa. The casino will take full advantage of its riverfront position with outdoor patios and pre-function spaces. It is expected to open in the first quarter of 2017.
Rivers Casino & Resort will be located adjacent to a new mixed-use Mohawk Harbor development currently under construction by the Galesi Group, which constitutes an additional $150 million investment in the 60-acre riverfront property. The mix of residential, retail and commercial space will include a 124-room Courtyard by Marriott and a 50-slip harbor on the Mohawk River and Erie Canal.
For more information on Rivers Casino & Resort, visit www.riverscasinoandresort.com.
About Rush Street Gaming – Founded by Neil Bluhm and Greg Carlin, Rush Street Gaming and its affiliates have developed and operate successful casinos in Pittsburgh, Philadelphia and Des Plaines, IL (Chicago area). By placing an emphasis on superior design and outstanding customer service, Rush Street Gaming has become one of the leading casino developers in the United States. Existing casinos generate over $1 billion in annual gaming revenues, and all Rush Street Gaming casinos were voted a 2015 “Best Place to Work” or “Top Workplace” by their team members.