Monday, January 16, 2012

Revenue up at Vernon Downs in 2011

American Racing and Entertainment, which operates two Racetracks and Casinos in upstate New York, showed impressive gains in numbers in 2011 at both Vernon Downs and Tioga Downs.

Vernon Downs posted strong increases in business in 2011 with casino credits played at the upstate casino increasing 14.1% ($64 million) over 2010, with net revenue for the casino posting a 2.6% increase in business, good for $1.1 million dollars.

The Food and Beverage department also posted strong gains in 2011, increasing business 18.3% over 2010.

Vernon Downs also had traffic at the property increase sharply during 2011, with attendance being up 11.6% over 2010.

Vernon Downs' significant increases in casino play were helped with the addition of the tax-exempt free play program that began in April 2011.

Also driving business in 2011 for Vernon Downs was the opening of the $8.9 million dollar hotel expansion that included a multi-purpose convention space for concerts, weddings, catering, and receptions, along with a new state-of-the-art simulcasting facility, and the luxurious Mr. G's Food and Spirits restaurant.

Tioga Downs also posted a 9.8% increase in casino credits played ($66.5 million) for 2011 when compared to 2010, with net revenue for the casino up 7.5% or $4 million dollars.

The food and beverage numbers at Tioga Downs also saw a large increase, due in part to a $5 buffet promotion it held the last quarter of the year.

The Food and Beverage number closed out 2011 with a 7.7% increase.

The Tioga Downs gift shop showed the largest increase in business in 2011 with a 92.7% increase over 2010.

Vernon Downs Casino & Hotel is open year-round with video gaming machines, simulcast horse racing, a live harness racing season, restaurants, a sports bar and special entertainment events. The property employs almost 300 people, offers an all-suites hotel and a newly expanded Events Center. It is located near Routes 5 and 31 in Vernon, NY.