Casino In Upstate New York Announces Closure
MONTICELLO, N.Y. (AP) — Officials say the casino operations at New York's Monticello Casino and Raceway will soon close, but the raceway will remain open.
According to a Securities and Exchange Commission filing Tuesday, Empire Resorts Inc. will close its electronic gaming operations at the track around April 23.
The Times Herald Record reports about 40 employees will remain at the harness racing track, while the racino's 160 other employees can take jobs at the nearby Resorts World Catskills casino.
Employees will also be offered severance packages.
The company says the goal for the closure is to avoid cannibalizing revenues from Resorts World Catskills and to improve overall earnings. Empire Resorts has been averaging losses of $10 million per month since opening the new casino last February.
Information from: The Times Herald-Record, http://www.th-record.com