“On top of that, their projections also called for significant new outside revenue.

In a statement of its own, the Seneca Nation said del Lago’s difficulties were rooted in unrealistic goals: Del Lago's estimates were that they were going to take significant market share from both the Seneca Nation's operations in Western New York and from the Oneida operations in Central New York,” the Seneca Nation’s statement read. We want to continue to expand and bring even more tourism and economic development to Seneca County and the surrounding counties.” Our first year has proven how valuable del Lago is to the Finger Lakes region. Unfortunately, the Senecas have upset that applecart and now del Lago is seeking to level the playing field. All del Lago is looking for is a fair, competitive marketplace. Del Lago can compete on an even playing field but not one that’s tipped so heavily toward the Senecas. What are they doing with that newfound windfall? Using more than $50 million to provide additional promotions and incentives – particularly in the Rochester area – to lure customers from del Lago. The Seneca Nation stopped making payments to both New York State and to the local governments last year. When del Lago sought and won its casino license, it was done based on circumstances that have now significantly changed. As it starts its second year, del Lago faces a blatantly unfair competitive disadvantage. He also said the industry was slated toward the tribe-run casinos. Steven Greenberg, spokesman for del Lago, blamed over-saturation, as several new state-run casinos and Indian nation gaming facilities have opened across upstate New York in the last few years. Del Lago's gross gaming revenue only hit about $150 million.

The casino has consistently reported gross gaming revenue of about $12.5 million per month, according to Moody's. At the time of its initial rating, Moody's expected that del Lago would ramp up to about $250 million of net revenue in its first full year of operations. In January, Moody's Investor Services downgraded del Lago's credit rating from stable to a negative.

Though advertised as cash cows, del Lago is one of several new upstate casinos that saw first-year slot machine and table game revenue finish far short of what was originally projected.Īccording to the Associated Press, del Lago generated $113 million in gambling revenue in its first nine months, far short of its $263 million projection. Andrew Cuomo's statewide casino expansion initiative. The casino, located in the Town of Tyre, opened just over a year ago as part of Gov. Del Lago Resort and Casino in the northern Finger Lakes is looking to state legislators in Albany to use taxpayer money to bail out the casino after first-year revenue shortages.

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