Oneida Indian expands casino

Oneida Indian Nation has announced its plans to expand one of its casinos after one year of opening the third one. The Point Place Casino expansion will include a larger gaming floor with 100 additional slot machines. The casino initially opened its doors in March 2018.

The new and refurbished casino is expected to be completed in late 2020. In August, Oneida Indian Nation launched its very first sports betting lounge at the Turning Stone Resort in Verona.

Additions to the Gaming Floor

The casino will also see an increase in the total number of slot machines which includes more than 600 slots. There will be additional administrative offices as well as a new school to train table game dealers. The casino adds on to its already available array of facilities including the sports betting lounge, table games, restaurants and bars to name a few.

Oneida Financial woes

The recent expansion comes after the company has for the past three years failed to meet its revenue projections. The Oneida Indian Nation has been struggling to keep business afloat across the New York non-Indian gambling industry. In 2013, Oneida Nation agreed to pay 25 percent of slot revenues for the rights to operate casinos exclusively.

A number of new non-Indian commercial casinos have also been struggling. Some of the casinos namely the del Lago Resort Casino has seen a downgrade rating by the credit ratings.  In terms of paying the state, the del Lago is expected to pay 10% of table games and sports betting while 37% is a required contribution for slot revenues.

The states’ largest casino, Resorts World Catskills was on the verge of filing for bankruptcy. Resorts World Catskills was also USD$400 million in debt this year.

The Upstate New York casino industry has received a lot of backlash and labeled as “crowded” by experts.  The new non-Indian casinos are also in competition with many other casinos in the state including seven Indian casinos.