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Meanwhile, slot machines racked up about 63 percent of overall casino profits and table games about 33 percent. In Mississippi, casino revenue is taxed at a 12 percent rate with eight percent going to the state and four percent to local government. The state will have a nice payday, but not enough to fix all the roads and bridges. A. Just about anything played with a ball and some sports, such as auto racing, that are not.

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Guests play the slot machines at Resorts World Catskill Casino in Monticello in February. The financial picture painted in the quarterly report is not surprising. Resorts World Catskills is the largest of the four upstate New York casinos that started opening in 2017, but it has been the worst performing one, t he USA Today Network's Albany Bureau reported in June . Guests play the slot machines at Resorts World Catskill Casino in Monticello in February. It's net win per day — which is the money left in its slot machines after payouts to winners — has averaged a mere $103 per machine, which is well below the other New York casinos. Although it had a few stronger weeks so far this summer, the casino is still in pace to produce about $140 million in annual revenue in its first year -- about half of what it initially projected, state records show . The performance led Moody's Investors Service in June to downgrade the bond rating of Montreign, the subsidiary of Empire Resorts that operates the casino. "Without a significant near-term improvement in revenue, Resorts will be challenged to support its annual fixed charges going forward," Keith Foley, a senior vice president at Moody's, said in a statement. Chares Degliomini, the casino's executive president, said the casino and its 18-story hotel are doing well as the facility builds a clientele and adds new amenities. The entertainment village with 100 hotel rooms, dining and retails stores is set to open in December, while the rebuilt golf course on the old Concord Hotel site is scheduled to open next year. The Kartrite Hotel & Indoor Waterpark  will open in early 2019 . He said New York chose the project to be a catalyst to revive the struggling Catskills economy, not because it would produce the greatest revenue.

For the original version including any supplementary images or video, visit https://www.poughkeepsiejournal.com/story/news/local/2018/08/15/resorts-world-catskills-struggling-financially-report/999224002/

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