Casino operations at Monticello Casino and Raceway in Thompson in Sullivan County, New York will soon be shut down, however, the harness racing track will remain open for business, at least for the time being.
The closing due to take place on or before April 23, 2019, was revealed by the racino’s owner, Empire Resorts, which is majority owned Kien Huat Realty Sdn Bhd of Malaysian conglomerate, Genting Group.
“On January 22, 2019, management of the Company and Monticello Raceway Management, Inc. (“MRMI”), a wholly-owned subsidiary of the Company, notified employees of MRMI concerning the Company’s plans to cease video gaming machine operations and food and beverage service at Monticello Casino and Raceway. The Company anticipates operations to cease on or about April 23, 2019.”
The closure is an effort to prevent the racino from cannibalizing revenues from the more than 2,000 slots and 150 table games at its Resorts World property located just 10 minutes down NY-17.
Both properties have been losing millions, with Empire Resorts being saved from bankruptcy in 2009 by Malaysian Chinese billionaire businessman, Lim Kok Thay, board executive and Chairman of Genting Group, while Resorts World has averaged monthly losses of between $10 million and $13 million since its opening less than a year ago
