🤑 del Lago Resort & Casino | Seneca County, NY

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Updated Jan 30, ; Posted Mar 29, TYRE, NY -- If the month-old del Lago Resort & Casino can't make enough money professor who has studied and written reports on the Upstate New York casino industry.


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All rights reserved About Us. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. Barrow isn't buying it. Barrow and other experts have long warned of a crowded and even saturated market. At the time, there were five Upstate Indian casinos, Since then, the Oneida Nation has added two smaller casinos in the region also served by its large Turning Stone Resort Casino. This scenario is not unprecedented, Barrow said. The Cuomo administration endorsed the granting of new casino licenses in to give private developers the chance to compete with the Indian gaming operations. They made a mistake. If that's the case, Barrow said, the state is wise not get involved in lowering taxes or providing other help. The casino pays 37 percent of its slot revenues and 10 percent of it table game revenues in taxes. The Finger Lakes casino, falling short on revenues, sought breaks on the taxes it owes state and local governments. The four casinos made competitive bids to locate in areas not covered by existing gaming compacts with the Indian nations. Community Rules apply to all content you upload or otherwise submit to this site. The state, he said, should have looked to expand in the much more densely populated New York City area. It opened last month. The casino has boosted employment, spurred tourism and created energy in the local economy, its backers say. A del Lago spokesman, meanwhile, blamed the casino's poor earnings forecast on a situation it says it couldn't have predicted: Last year, the Seneca Nation of Indians stopped making the payments it was sending to state and local governments on the three casinos it operates in western New York. By Don Cazentre dcazentre nyup.{/INSERTKEYS}{/PARAGRAPH} Del Lago, which opened in February at State Thruway Exit 41 near Waterloo, seems to have lost its bet this week to win a financial bailout from state taxpayers. The Senecas had been paying 25 percent of their slot revenues in gaming taxes. The situation has not been resolved. But del Lago seems to be in the worst shape. From its Feb. Del Lago is not the only new Upstate casino in trouble. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. {PARAGRAPH}{INSERTKEYS}Dennis Nett. Cuomo and lawmakers are in the midst of negotiations for a new state budget for the fiscal year that begins April 1. Wilmot said the casino is making enough money now to "pay our bills," but needed a break from the state for the long term. None of the four non Indian nation-owned casino that opened in the past 15 months is meeting the projections for earnings they gave the state when they bid for gaming licenses. Ad Choices. He also argues the state was wrong to choose Upstate as the location for new casinos. In such cases, bankruptices can be a solution, especially for a a casino, like del Lago, that has debt issues. Andrew Cuomo on Wednesday rejected the idea of giving tax breaks to the struggling casino, as did many state lawmakers and other officials.