The Catskills-region casino approved this week by New York regulators will have the biggest impact on a nearby Yonkers casino, but Foxwoods and Mohegan Sun will also feel some negative impact, according to Fitch Ratings.
Mohegan Sun was competing for the Catskills/Hudson Valley license, but lost to Empire Resorts Inc.’s Montreign Resort Casino.
“Much of the new casino resort’s gaming revenues will likely to come at the expense of nearby casinos, as the larger region is saturated and the local population sparse,” Fitch wrote.
Montreign is anticipating gaming revenue of $301 million.
