County Executive Rob Astorino says Thursday that closing the county-owned park would be drastic and he was not yet recommending it.
But he warned of a $100 million deficit in 2012 and said he would not propose any increase in property taxes.
Playland, a National Historic Landmark, is about 25 miles north of midtown Manhattan. It opened in 1928.
Astorino said attendance was 420,000 this year, down from 500,000 in 2010 and 1 million in 2000.
He said areas of the park such as the boardwalk, the beach and a bird sanctuary, would not be affected by closing the amusement-ride section.