![]() ![]() Interest payments added another $17 million to that red number.Īt the time of filing, the company held $16.7 million in cash on hand and assets totaling $30 million. ![]() Through the first half of the year, Resorts World earned just $82 million in net revenue, posting losses of $41 million from gaming operations. Estimates from some of its consultants were even more aggressive, surging past $300 million. Prior to opening the casino, Empire Resorts projected $277 million in first-year revenue. It’s trending the wrong way, too, with more than $37 million of that loss coming during the fairer-weather months of Q2. Since opening Resorts World in February, Empire Resorts has lost more than $58 million. The filing reveals sharp losses and mounting liability in excess of a half a billion dollars, raising serious questions about the property’s future. The billion-dollar casino complex is the newest in NY, and its situation is already looking grim. Information based off a news release from Resorts World Catskills.Maybe del Lago won’t be the first New York casino to go belly-up, after all.Įmpire Resorts recently filed a troubling financial report covering Resorts World Catskills and the attached Moniticello Raceway. The destination resort at which Resorts World Catskills is located will continue its expansion in 2019 with the addition of two new offerings, The Kartrite Hotel and Indoor Waterpark and a Rees Jones-redesigned golf course. Guests of The Alder will also have full access to the luxury indoor pool and fitness center within the Resorts World Catskills hotel. There are also ten dining experiences and the Crystal Life Spa. The Alder serves as an extension of the existing scenic destination resort campus, providing guests full access to the services and amenities of Resorts World Catskills including 100,000 square feet of gaming space and over 48,000 square feet of meeting and event spaces, which include seven conference rooms, the 2,500-seat Epicenter entertainment venue. “Like its name, which was said to know the past, present, and future, The Alder at Resorts World Catskills will symbolize the commitment to returning the region to its roots as an iconic American destination while also helping to grow its future and expand the range of experiences we are able to offer our guests,” said Ryan Eller, president & CEO of Resorts World Catskills. The 101 guest rooms feature the modern amenities and signature design details that marry the modern glamour of the casino resort with the sweeping scenic views, and guest-customized personal service. The Alder brings to life Resorts World Catskills’ commitment to integrating its natural surroundings with a lobby that emphasizes communal spaces and incorporates the outdoor beauty of the Catskills region through textures and visual elements. The Alder’s name evokes the majestic alder tree, a part of the birch family native to the rich ecosystem of the Catskills, known for providing shelter and protection to neighboring wildlife while enriching the natural environment. This new lifestyle hotel offers a host of exciting amenities and offerings to its guests, including retail, entertainment, and food and beverage options throughout its first floor. The Alder is now taking reservations for stays starting Jan. 4, 2019. The Alder, a new lifestyle hotel, will offer guests an exciting new way to stay and play in the heart of the picturesque Catskill Mountains. Resorts World Catskills unveiled plans to open its second hospitality complex in the first week of the new year.
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