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Yonkers Raceway Has Grand Opening For Casino

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Mar 29, 2007 2:10 pm US/Eastern

Yonkers Raceway Has Grand Opening For Casino

YONKERS (CBS/AP) ―

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Yonkers Raceway had the grand opening of its Gotham Palace casino gambling yesterday. The raceway now has 5500 video lottery machines. It first opened in October with a few machines. It was up to 1700 machines in December.

The entire complex called Empire City also has a restaurant and bandstand that will have live entertainment six nights a week.

Since the start of the year, the casino has pulled in between five and $7 million each week in net income.

Local state Assemblyman Mike Spano would like to see more of the money go to the city.

Current law allows for 3.5 percent of the betting to go to Yonkers - with a $20 million cap. Spano's legislation would increase revenues to the city by $1.2 million by eliminating the cap.

The video gaming has resurrected the 108-year-old raceway, which was in jeopardy of closing as interest in horse racing declined.