Desperate to post positive revenue figures, Empire Resorts which owns and operates the upstate New York Casino Resorts World Catskills has once again met with disappointment.
According to the latest figures released, the casino operator posted a third-quarter loss of $26.4 million on revenue of $69.5 million and operating costs of $79.2 million.
For the same period the previous year, Empire Resorts had booked a loss of $33.7 million on revenue of $59.9 million and operating costs of $77.8 million.
The casino operator has been battling with a potential bankruptcy and as per the estimates, it has lost about $238 million since it began operations back in February 2018.
Recently, Malaysian investors, Kien Haust and Genting Malaysia struck a deal with Empire Resorts, the company which operates the upstate New York’s largest casino, to purchase all remaining shares of the casino resort.
Resorts World Catskills began operation in 2018. It is one of the largest amongst the four upstate New York casinos – Rivers Casino & Resort in Schenectady, del Lago Resort & Casino near Waterloo in the Finger Lakes and Tioga Downs, west of Binghamton in the Southern Tier.