Gary Greenberg, investor and minority share holder at Vernon Downs, Tioga Downs’ sister track in Vernon, N.Y., is pictured during the May 22 Grand Opening of Vernon Downs’ Parking Garage. (Provided Photos)
Pictured is the main entrance to Vernon Downs’ new 222-car parking garage, costing $7.2 million.
Recently, on the New York Gaming Commission website on May 13, 2015, newyorkgaming.org/press-media, it was reported in a 2014 report that New York racino numbers were on the decline.
The report stated, “The New York Gaming Association 2014 report on the impact of racinos in New York showcases the decline of revenue for the state and local governments from seven upstate racinos.”
While Resorts World New York City saved the state from a disastrous year, the fact remains that the upstate picture has declined for the last two years.
Gary Greenberg, minority share holder and investor at Vernon Downs and gaming expert, has stated since 2013 that saturation, a poor upstate economy, and people leaving New York has negatively impacted upstate New York racinos.
“The outlook looks dim for many upstate racinos with up to four new casinos opening,” said Greenberg, “and if Tioga Downs is not awarded a casino license several racinos would close by 2020.”
Greenberg has reiterated these words in spite of the prospects of a potential fourth application being awarded to its sister track, Tioga Downs in Nichols, N.Y. – who subsidizes Vernon Downs. For Greenberg, there are high stakes in this award.
Picture is the heated walkway connecting the new parking garage to the racino at Vernon Downs.
As the application deadline of July 6 approaches for submittal from prospective casinos for the fourth license; which thus far Tioga Downs is the only one that has submitted questions during the Q&A period afforded by the Gaming Commission, Greenberg remains hopeful that the award to Tioga Downs will save the upstate racinos.
In fact, Vernon Downs, located in Vernon, N.Y., recently held a grand opening for the $7.2 million, 222-car parking garage. The celebration took place on May 22, 2015.
“It’s a big addition for Vernon and the local community,” said Greenberg.
It was also noted by Greenberg that the Vernon Downs racino added a banquet hall and event center in 2011 that seats 450, added Mr. G’s restaurant that seats 90, and added a simulcast center that seats 80.
For the parking garage, the construction began on June 9, 2014, was topped off on Dec. 11, 2014, and then officially opened on May 22, 2015.
The contractor was hired locally, with work performed by VIP Structures out of Syracuse, N.Y.
According to Greenberg, the communities that surround Vernon and Tioga Downs are very excited and hopeful that Tioga will be awarded a casino license. The mood at the grand opening on May 22 at Vernon was upbeat and positive, Greenberg noted.
“Jeff Gural stated Vernon is here to stay with its sister track Tioga Downs when a license is awarded to Tioga,” Greenberg added. “Jeff also gave a check for $52,000 to the Food Bank of Central New York on behalf of Vernon Downs at the grand opening.”
As for future plans for expansion, Gural is going to release a plan to put a casino at the Meadowlands in N.J., which he owns, in the coming days. Hard Rock Cafe would be his partner.
New Jersey has to allow voters to pass a referendum before a casino can be built, and the New Jersey legislature must vote by this June for placement on the ballot in November.
As for Gural’s investment in Vernon Downs, since he took over he has constructed an $8.9 million event center, a terrace from Vernon Downs’ hotel overlooking the track, and a new simulcast center.
The new addition of the $7.2 million parking garage connected to the casino and track is the icing on the cake for the guests that arrive at the Vernon track.
Since the Gaming Commission’s selection of Lago, in Tyre, N.Y. as the Southern Tier’s selected site, the Oneida Nation has been working to construct a facility of their own on Indian Territory, which was exempt from bidders for the full gaming license.
In recent news, the Oneida Nation reported their casino would officially open as the “Yellow Brick Road” in Madison County on June 2. This facility is located several miles from Vernon Downs, and on Indian Nation territory.
Jeff Gural has not yet disclosed the full parameters of his upcoming application, but details are expected to be forthcoming.
To learn more, visit www.tiogadowns.com or www.vernondowns.com.
