Governor Cuomo Announces Grand Opening of Rivers Casino & Resort in Schenectady
Creates 1,025 Permanent Jobs and 50 Additional Spa and Hotel Jobs in Capital RegionMajor Part of Mohawk Harbor Redevelopment of 60-Acre Brownfield Site
Casino & Resort Expected to Attract 2.8 Million Visitors Annually
Four Upstate Casinos Will Generate $325 Million in Gaming Revenue for the State; $65 Million to Localities and $260 Million for Public Education
Governor Andrew M. Cuomo recently announced the grand opening of the Rivers Casino & Resort in Schenectady. The $330 million resort features a 51,000 square-foot gaming floor, a luxury hotel and multiple dining and retail options as part of a larger Mohawk Harbor Redevelopment project. Rivers has created 1,025 permanent jobs with another 50 expected once the connected luxury hotel and spa open later this year. Construction of the casino resulted in more than 550,000 hours and 1,710 construction jobs in the Capital Region.
“The new Rivers Resort & Casino is a vital economic asset for
the Capital Region, generating new jobs and opportunity, continuing Schenectady’s
resurgence and moving the region forward,"
Governor Cuomo said. “By supporting destination resorts across upstate New York, we are
showing off the best of the Empire State while attracting new visitors,
boosting tourism, and helping support and strengthen our local communities.”
Governor Cuomo’s Upstate New York Gaming and Economic Development
Act of 2013 mandated that all state revenue from Rivers be directed back
to the local level. Ten percent of the state’s tax revenue from
the casino is split between the City of Schenectady and Schenectady County
for hosting the facility, and Albany, Fulton, Montgomery, Rensselaer,
Saratoga, Schoharie and Washington counties share another 10 percent.
The remaining 80 percent of revenue is distributed statewide to support
public education or provide tax relief to New Yorkers.
Rivers Casino & Resort Schenectady’s Expected Economic Impact
In addition to creating more than 1,000 jobs during construction, Rivers
has created 1,025 permanent jobs with the casino opening and will create
another 50 when its hotel and spa open this summer. In addition, local
governments — the City of Schenectady, school district, Schenectady
County and other neighboring counties in the gaming region established
by the state — will see a significant, positive, direct impact from
Rivers Casino & Resort Schenectady through their share of the casino’s
gaming tax payments to the state.
“By supporting destination resorts across upstate New York, we are showing off the best of the Empire State while attracting new visitors, boosting tourism, and helping support and strengthen our local communities.”
The casino’s gaming floor features 1,150 slot machines, 67 table games and 15 poker tables. In addition, Rivers Casino & Resort Schenectady guests will also enjoy:
- 13,000 square-feet of multi-purpose meeting, convention & banquet space
- Van Slyck’s bar, lounge and gaming with nightly entertainment
- Dukes Chophouse, an upscale restaurant off the gaming floor with nightly entertainment and a private outdoor patio
- Food Court with Mian (Asian), Flipt (burgers), Johnny’s To-Go (Italian), Villa Italia (bakery) and catering by Mallozzi Family
- Splash Spa (opening later 2017)
- A luxury 165 room hotel overlooking the Mohawk River (opening later 2017)
Rivers Casino & Resort Schenectady was developed by The Galesi Group,
a real estate development company headquartered in Schenectady. Founded
in 1969, The Galesi Group has invested over $100 million in downtown Schenectady
over the last five years. The company owns and manages a diverse real
estate portfolio in excess of 11 million square feet of commercial, industrial
and multi-family properties and has owned or developed over 20,000 apartments
nationwide. Rivers is operated by Rush Street Gaming, which has developed
and currently operates three casinos in Des Plaines, Illinois and in Pittsburgh
and Philadelphia, Pennsylvania. Several Rush Street principals were involved
in the development and operation of the Fallsview Casino Resort in Niagara
Falls, Ontario, the most profitable casino in Canada.
Mohawk Harbor Development
Rivers Casino & Resort is the hub of the 60-acre Mohawk Harbor Redevelopment
Project, a waterfront mixed-use redevelopment of the decades-vacant location
of American Locomotive Company, which was one of the oldest brownfield
sites in the United States. The entire Mohawk Harbor redevelopment has
generated more than 1.2 million construction hours equaling 2,200 construction
jobs including Rivers. Combined private investment for Rivers Casino &
Resort, Schenectady and Mohawk Harbor totals $480 million. Beyond the
casino’s ultimate 1,075 permanent jobs, Mohawk Harbor’s commercial
tenants expect to generate more than 100 additional positions.
Prior to the casino referendum being approved by voters in 2013, Empire
State Development invested approximately $9 million to prepare the Mohawk
Harbor site and remove barriers to attract private investment in and around
the site. The New York State Department of Environmental Conservation
also provided brownfield tax credits to assist in remediation of the former
locomotive plant.
Francesco Galesi, CEO of developer The Galesi Group, said, “The Galesi Group’s roots in Schenectady go back to 1969 and
today, thanks to Governor Cuomo’s economic development policies
and casino siting process, is a pinnacle moment in our company’s
legacy. This is a true testament to the thousands of workers who gave
their time, energy and spirit into building this project, which is a critical
part of the rebirth of our storied city. We look forward to completing
the Mohawk Harbor project to complement the casino and drive further growth
in our community and beyond.”
Rush Street Chairman Neil Bluhm said, “I want to commend Governor Cuomo for delivering on his vision to
make New York State 'Open for Business' and for leading the revitalization
of communities all across upstate New York. The speed at which New York
State adopted new legislation, undertook a highly competitive process,
and allowed new casinos to develop from the ground up is truly remarkable.
We are excited that the City of Schenectady and the Capital Region will
be the newest addition to the Rush Street family.”
Rush Street Gaming CEO Greg Carlin said, “Rivers Casino in Schenectady is opening a little more than one
year after breaking ground, and I'm confident our guests are going
to be wowed by the quality, the design and the overall experience of our
newest entertainment destination. I'm proud of our entire Rush Street
team including the more than 1,000 new team members we've hired who
have made the opening of Rivers Casino in Schenectady an important milestone
not just for Rush Street Gaming, but for upstate New York.”
Schenectady Mayor Gary McCarthy said, “Rivers Casino and Resort will be a tremendous boon to the local
economy in Schenectady and the entire Capital Region. Thanks to the leadership
of Governor Cuomo, Rush Street Gaming, and all parties – this impactful
project is now a reality and we will continue to see the economic benefits
of the casino for years to come. From strengthening the upstate tourism
industry to driving new visitors to our local businesses, shops and stores,
this project is a win-win for everyone. I congratulate Rivers on their
grand opening, and look forward to seeing it become a major destination
in New York for millions of visitors to enjoy.”
Assemblymember Angelo Santabarbara said, "This transformative project and its location not only means many
good-paying jobs for the region, but also new economic development opportunities.
The Mohawk Harbor site in Schenectady has now become the catalyst for
additional projects in the surrounding areas, including new hotels, restaurants
and many more supporting industries. With this project now complete, we
are already seeing a positive impact on the local economy and the tourism
landscape in the Capital Region."
Assemblymember Phil Steck said, "The Rivers Casino & Resort has revitalized what was once a brownfield
in downtown Schenectady. The Galesi Group spearheaded the development
of an amazing facility that will bring new tax revenue to Schenectady.
In fact, it has already enabled property tax relief for citizens of that
City."
Based on Rivers’ estimates, the resort and casino is projected to
bring in 2.8 million visitors per year. In total, the four commercial
casinos – del Lago, Tioga Downs, Montreign and Rivers -- when fully
operational will generate $325 million in gaming taxes, of which $65 million
will be directed to localities and $260 million will support public education.
Rivers Casino & Resort Schenectady is located at 301 Nott Street,
Schenectady, NY 12305, just off Erie Boulevard.