After exposing in a January Securities and Trade Compensation (SEC) filing that it would certainly be shutting down ‘video video pc gaming machine procedures and food and drink service' at Monticello Raceway in New York, the digital video pc gaming racino at the location shut on Tuesday, April 23, 2019.
The website posted the following message…
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"Monticello Casino Raceway will be ceasing its casino procedures since April 23, 2019, and consolidating procedures with Hotels World Catskills. As we approach the approaching union of our 2 residential or commercial homes, we want to ensure you that this will be a simple and smooth experience."
Proceeding procedures:
Inning accordance with the website, "Harness Racing and the simulcasting room will both proceed to run."
Information of the shutting was exposed on January 22, 2019, by the racino's proprietor, Realm Hotels (NYNY:NASDAQ GM), which is bulk owned Kien Huat Real estate Sdn Bhd of Malaysian corporation, Genting Team. Along with the property located about 90 miles from New York City, the Monticello-headquartered company is also in charge of the $1.5 billion Hotels World Catskills, which opened up in February 2018 and lies in New York State's Catskill Hills.
Concentrate on Catskills:
Inning accordance with the company, the closure is an initiative to prevent the racino from cannibalizing incomes from the greater than 2,000 ports and 150 table video games at its Hotels World property. The New York-headquartered company said that it plans to concentrate on expanding the casino and resort business that opened up on February 8 in 2015 in nearby Kiamesha Lake.
Future uncertain:
In the previously record, Realm Hotels specified that equine racing will proceed at the racino, however, no guarantees were made in either the written declaration or the SEC filing regarding the long-lasting future of the track.
Standing for most of Sullivan Region, Assemblywoman, Aileen Gunther, revealed concern over the closure and the future of the racetrack that is a component of the county's background since opening up on June 27, 1958.
"Today we are reviewing some plans to earn certain that as we composed in the constitutional change that the racino was supposed to support the handbags and as we move forward," Gunther said, "I am sorry that it happened and hopefully that building will be used for something favorable in the community," as reported by the Everyday Freeman.
Concern over the racetrack's future was common by Region Legislature Chairman, Luis Alvarez, that said…
"That belongs to Sullivan Region and is there forever and ever and ever and individuals come from everywhere for equine harness, so I am a bit stressed over it."
Inning accordance with the Times Herald-Record coverage in January, Alverez said that he does not think equine racing has a future in the New York region.
Realm said in the January expose that some 40 workers will remain on at the Monticello Raceway, while the casino operation's various other 160 employees can choose to take severance packages or take settings at Hotels World Catskills, which is approximately just 10 mins away.