A recent report shows the first year earnings for a new Hudson Valley casino are falling short.         

Sullivan County's $920 million Resorts World Catskills opened up in February with high expectations.

According to a Moody's Investor Report, what was supposed to be a casino hot spot in the town of Thompson could be a big flop, with gross gaming revenue as of June coming in at $143 million. That's less than half of what was expected at this point so far in its first year.

The casino is one of 11 gaming facilities in New York state, and Moody's experts cite the possibility of an oversaturated market as the cause for the casino's potential financial crisis.

Despite the disappointing report, there are still plans to bring in business, including an affordable "mid-market" hotel, along with an indoor water park and golf course.