1133 State Route 414
Waterloo, NY 13165
Del Lago Resort & Casino opened February 1,2017. The casino was awarded a gaming license by the New York Gaming Commission on December 17, 2014. The cost of development was $425 million.
Del Lago Resort & Casino is located in the New York Finger Lakes region near Exit 41 of the New York State Thruway.
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March 29, 2018
April 01 marks the beginning of the fiscal year for the state of New York. State lawmakers and the Gov. Andrew Cuomo are actively trying to decide on a budget. However, the governor is not supporting the idea of providing financial help to one of the casinos located in Upstate New York.
The del Lago Resort & Casino is located in the Finger Lakes.
Gov. Cuomo is not interested in helping private companies elevate their financial issues. He considers this a "private concern".
One of the four non-Native American owned casinos, del Lago Resort & Casino is located in Seneca County and off of Exit 41 from the State Thruway. The four casinos that were approved for the area have all opened in the last 15 months. del Lago opened on February 01 of last year.
Of the new casinos in Upstate New York, the del Lago has been preforming the weakest.
When the casino was being proposed, financial estimates were presented to help win their bid. From that estimate, the casino resort is earning $100 million less than what was predicted. The credit rating has also been lowered by Moody's Investor Service to "negative". This rating is a warning to the casino's debtors that they may not be able to pay them.
Asking for help for the financial future of the casino by the state is something that Thomas Wiltmot, the del Lago principal owner, is planning on doing. $14 million in breaks is what will be asked for. Currently the state and local governments receive 10 percent of table game revenue. 37 percent is paid from the slot machine revenue.
Gov. Cuomo has made it clear that he is not interested in helping out private companies. He is not alone. Lawmakers across the state also feel the same way.
Part of the reason why del Lago is not preforming as strongly is believed to be due to the Seneca Nation of Indians. The tribe owns three casinos located in the western part of the state. Last year the tribe stopped paying a portion of their gaming revenue to the state and local governments. Before they were paying 25 percent of their slot machine revenue.
It is believed by del Lago that the Senecas were then able to use the money towards advertising. That advertising attracted guests to their casino and away from del Lago. The del Lago wants a marketplace that is both competitive and fair.
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