Report: Pessimism for casinos in the longterm

posted Jul 22, 2014

Thumbnail image for roulette wheel by Hakan Dahlstrom FlickrBecause casinos. From the summary of a Fitch Ratings report projecting longterm trends for regional casinos, revenue growth for which Fitch concludes will "remain challenging":

We attribute this pessimism to longer term structural macroeconomic and secular factors. Notable factors include saturation across regional markets; stagnant wages among the lower tier players; reprioritization of disposable income; proliferation of online/social gaming; potentially lower propensity to gamble among younger generations; and lowered preparedness for retirement by baby boomers.

A recent Moody's outlook for the short term came to a similar conclusion.

Also: From a Capital today, a report that some of the applicants for the Hudson Valley casino licenses will be seeking property tax breaks.

Earlier on AOA:
+ A map of where casinos are already located in and around New York State
+ Scanning the summaries of the Capital Region casino applications

photo: Flickr user Håkan Dahlström (cc)

tags: casinos

The Scoop

For a decade All Over Albany was a place for interested and interesting people in New York's Capital Region. It was kind of like having a smart, savvy friend who could help you find out what's up. AOA stopped publishing at the end of 2018.

Recently on All Over Albany

Thank you!

When we started AOA a decade ago we had no idea what was going to happen. And it turned out better than we could have... (more)

Let's stay in touch

This all feels like the last day of camp or something. And we're going to miss you all so much. But we'd like to stay... (more)

A few things I think about this place

Working on AOA over the past decade has been a life-changing experience for me and it's shaped the way I think about so many things.... (more)

Albany tightened its rules for shoveling snowy sidewalks last winter -- so how'd that work out?

If winter ever gets its act together and drops more snow on us, there will be sidewalks to shovel. And shortly after that, Albany will... (more)

Tea with Jack McEneny

Last week we were fortunate enough to spend a few minutes with Jack McEneny -- former state Assemblyman, unofficial Albany historian, and genuinely nice guy.... (more)

Recent Comments

My three year old son absolutely loving riding the train around Huck Finn's (Hoffman's) Playland this summer.

... said KGB about Drawing: What's something that brought you joy this year?

Thank you!

...has 27 comments, most recently from Ashley

Let's stay in touch

...has 4 comments, most recently from mg

A look inside 2 Judson Street

...has 3 comments, most recently from Diane (Agans) Boyle

Everything changes: Alicia Lea

...has 2 comments, most recently from Chaz Boyark

A few things I think about this place

...has 13 comments, most recently from Katherine