Del Lago Casino Petitions New York for Tax Relief
Del Lago Casino Petitions New York State Government for Tax Relief? NBC news affiliate 2WGRZ recently reported that ownership from del Lago Resort and Casino traveled to Albany to meet with Governor Andrew Cuomo’s administration earlier this month. In the post by Joseph Spector and Jon Campbell, the June 12 meeting took place with members the governor’s budget division. The primary goal was to seek out a lower tax rate or some other form of financial relief for the Waterloo casino property located in New York’s Finger Lakes region.
Representing del Lago Casino was Thomas Wilmot. He is the co-owner of del Lago Casino, who made his fortune as a Rochester shopping mall magnate. His foray into New York’s real money casino industry has apparently failed to live up to expectations.
How Is Del Lago Casino Going To Get New York State Government Tax Relief?
While the specifics of the meeting were not released after a spokesperson for del Lago declined to comment on the proceedings, it most likely revolved around lower tax rates on real money casino gambling. Mr. Wilmot is no stranger to the State Capital in Albany. His most recent attempt to push the legislature for lower taxes before this month’s meeting took place earlier this year ahead of the new state budget that was passed in March.
He was quoted in this report as saying, “I think we need some help at this point, and what the future holds, time will tell,” when speaking to the USA Today Network’s Albany Bureau during that March timeframe.
The del Lago Casino and Resort opened in February of 2017 at a cost of $440 billion and by all accounts, it has failed to meet its revenue projections. Some options for relief would be a decrease in tax rates that would have to be passed into law by state legislators. Other options that could be pursued would involve the administrative arm of the state Gaming Commission to help the casino’s revenue picture. The governor’s office has been reluctant to most of Mr. Wilmot’s request for aid or tax relief and Gov. Cuomo himself has rejected any type of bailout for the struggling Finger Lakes gambling resort.
Will The Tax Relief Help Get More Jobs At Del Lago Casino?
The governor did acknowledge back in March that the state’s real money casino industry was struggling. However, he was quick to add, “But they’re private concerns, and I don’t want to get into the business of bailing out private concerns,” in his comments to reporters at that time.
Also on record as being opposed to any form of financial relief is Assembly Racing Committee chairman Gary Pretlow as a Democratic legislator from Mount Vernon. He has not spoken directly with anyone from del Lago and a recent statement on the matter quoted in this report was rather blunt, “If they have a beef, it’s with their consultants who did the numbers.”
Legislative activity at the Senate level could be seeking more transparency with the state’s four real money casino properties. It was reported that Senate Finance Committee Chairwoman Catherine Young as a Republican from Olean has introduced a bill that would require each casino to disclose financial information as it pertains to vendor contracts, existing dept, and executive salaries as part of the process to receive any type of future tax break.
Find Del Lago Casino at 1133 NY-414, Waterloo in New York. The zip code is 13165 and the contact information is (315) 946-1777 or visits their official website at Dellagoresort.com. At Del Lago, you can have the most entertaining experience at the Finger Lakes area’s latest addition to their community. If you like an adrenaline rush, you can explore the thrills of gaming as well as live entertainment. Also, enjoy the spa, hotel, and restaurants in a relaxing environment.
Located in Waterloo, New York, Wilmorite and Peninsula Pacific owns The The Del Lago Resort. JNB Gaming opens the property in 2017 with an overhead cost of four hundred forty million.
