Tioga Downs Experiences First Down Year

Tioga Downs experienced a down year in 2013, its first down year since the facility opened in 2006. The racino had a total net win of $59.6 million in 2013, down about $2 million from 2012. Last month, Tioga Downs’ net win was $4.31 million, its least profitable month since the flood month of September 2011, which saw the Downs bring in $3.9 million. Several upstate racinos experienced less profitable months in December, which has been attributed to bad winter weather and mega jackpots driving down net wins. While Tioga Downs drop seems modest, their increases over the past few years before 2013 were substantial. The racino’s net wins went from $41.4 million in 2007 to $61.7 million in 2012, increasing every year along the way, until now. Despite the decreases in profits for Tioga Downs, owner Jeff Gural is still moving forward with construction on a $14 million, three-story parking complex with room for 274 cars. If Tioga Downs were to be awarded a casino license later this year, ownership has plans for a $90 million expansion project.