More than three years after New York voters approved a constitutional amendment to expand casino gambling in the state, Rivers Casino and Resort in Schenectady opened its doors to the public today.
The $330 million dollar Las Vegas-style casino is one of four authorized by regulators after voters approved an amendment to New York's constitution expanding gambling in 2013. Rush Street Gaming Chairman Neil Bluhm joined state officials and local leaders for the grand opening. "We're standing here not much more than one year after ground was officially broken at the Rivers. And not more than two years from the award of our gaming license. You may think that that's quick, but this is the quickest development we've seen in the gaming industry, and you've done it in a marvelously quick and efficient way. This is a testament to Governor Cuomo's commitment to make New York state ‘open for business.’”
- The del Lago Resort & Casino in the town of Tyre in the Finger Lakes region opened last week.
- Tioga Downs in the Southern Tier converted into a slots and table-games casino in December and the Montreign Resort Casino in the Catskills is due to open in March 2018.
It took 14 months from shovel to shuffle, the old Alco industrial site now transformed into a destination resort. Governor Andrew Cuomo: "Today is just all good news. It really is a dream come true. We would be talking about this project sometimes and I would just say, it's just too great, it's just too unbelievable that something this grand and this powerful was going to happen, but it did. The dream came true, the vision turned into reality."
Thousands of people were filing in, overloading the parking lots. Some lined up early, anxious to try their luck. Gina Gardy of East Greenbush (pictured at right in a red top) was one of the first. "Got here at 4:30 this morning , and I'm happy to be here 'cause I'm excited for the grand opening, can't wait to play!"
Rivers features a 50,000-square foot gaming floor with hundreds of gleaming slot machines, a full menu of Vegas games including roulette and high stakes poker, and with dining establishments overseen by Bobby Mallozzi and his family. "So there's Duke's Chophouse and Duke's Lounge, which is a standalone restaurant, a sit-down restaurant, and then there's the marketplace, which has four concepts. Those are Flipt, which is our burger joint, Villa Italia, which is our 24-hour coffee and pastry outlet, Johnny's To-Go and Mian, which is our Asian Noodle Bar.
If you haven't made plans yet to visit the Rivers, the consensus is you likely will.
Schenectady Mayor Gary McCarthy : "It's not a casino in a vacuum. We have Mohawk Harbor immediately adjacent to us, it's a mixed use retail project, and it complements our development that's occurred in downtown."
The following information was provided by the Governor's office:
Governor Cuomo’s Upstate New York Gaming and Economic Development Act of 2013 mandated that all state revenue from Rivers be directed back to the local level. Ten percent of the state’s tax revenue from the casino is split between the City of Schenectady and Schenectady County for hosting the facility, and Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schoharie and Washington counties share another 10 percent. The remaining 80 percent of revenue is distributed statewide to support public education or provide tax relief to New Yorkers.
Rivers Casino & Resort Schenectady’s Expected Economic Impact
In addition to creating more than 1,000 jobs during construction, Rivers has created 1,025 permanent jobs with the casino opening and will create another 50 when its hotel and spa open this summer. In addition, local governments — the City of Schenectady, school district, Schenectady County and other neighboring counties in the gaming region established by the state — will see a significant, positive, direct impact from Rivers Casino & Resort Schenectady through their share of the casino’s gaming tax payments to the state.
Rivers Casino & Resort Schenectady was developed by The Galesi Group, a real estate development company headquartered in Schenectady. Founded in 1969, The Galesi Group has invested over $100 million in downtown Schenectady over the last five years. The company owns and manages a diverse real estate portfolio in excess of 11 million square feet of commercial, industrial and multi-family properties and has owned or developed over 20,000 apartments nationwide. Rivers is operated by Rush Street Gaming, which has developed and currently operates three casinos in Des Plaines, Illinois and in Pittsburgh and Philadelphia, Pennsylvania. Several Rush Street principals were involved in the development and operation of the Fallsview Casino Resort in Niagara Falls, Ontario, the most profitable casino in Canada.
Mohawk Harbor Development
Rivers Casino & Resort is the hub of the 60-acre Mohawk Harbor Redevelopment Project, a waterfront mixed-use redevelopment of the decades-vacant location of American Locomotive Company, which was one of the oldest brownfield sites in the United States. The entire Mohawk Harbor redevelopment has generated more than 1.2 million construction hours equaling 2,200 construction jobs including Rivers. Combined private investment for Rivers Casino & Resort, Schenectady and Mohawk Harbor totals $480 million. Beyond the casino’s ultimate 1,075 permanent jobs, Mohawk Harbor’s commercial tenants expect to generate more than 100 additional positions.
Prior to the casino referendum being approved by voters in 2013, Empire State Development invested approximately $9 million to prepare the Mohawk Harbor site and remove barriers to attract private investment in and around the site. The New York State Department of Environmental Conservation also provided brownfield tax credits to assist in remediation of the former locomotive plant.
