Gaming revenues at Delago Resorts & Casino in upstate New York will cover Tyre's local property taxes
Del Lago opened in 2017 at a cost of $440 million. The property is owned and operated by Churchill Downs, Inc., and was acquired last year through a nearly $2.5 billion acquisition of Peninsula Pacific Entertainment.
Del Lago has a Waterloo address but is located within the town of Tyre in Seneca County.
Among the four commercial casinos in upstate New York, Del Lago is the closest to the Seneca Nation's gaming district. The Seneca couple have exclusive rights to Las Vegas-style slot machines and table games west of Route 14. The highway runs along Seneca Lake, one of the 11 north and south lakes that make up Finger Lake.
Del Lago is located less than 10 miles east of Route 14 along Interstate 90. The 100,000-square-foot casino features 1,700 slots, 66 tables, and a Twins Piers sportsbook. The resort's amenities include a 205-room hotel, multiple restaurants, a bar, a spa, a shopping mall, and a 2,400-seat concert hall.
Local share
New York voters legalized commercial gaming through a statewide voting referendum in 2013, which amended a state constitution that allowed Las Vegas-style casinos.
The game expansion package created seven licenses, four reserved for the northern regions. Northern licenses are also exempt from northern regions competition for 10 years.
Del Lago and three other northern commercial casinos - Resorts World Catskills, Rivers Casino & Resorts Shenectady and Tioga Downs Casino Resorts - failed to meet their pre-opening revenue forecasts, but gaming facilities have still provided major benefits to the communities where they are located.
In addition to absorbing incremental costs for city services and covering costs directly related to casino operations, Del Lago's host agreement allocates approximately 1.7% of total gaming revenue to Tire. Seneca County also receives 1.7% of its casino multiplier each month.
For the 2022-23 fiscal year ended March 2023, Del Lago directed more than $2.11 million to Tire, an increase of about $100,000 year-over-year and $1.2 million more than the pandemic-stricken 2020-21 fiscal campaign.
The Tire Town Board recently voted to use its casino tax benefits to cover property taxes. The board passed a resolution directing the Tire Tax Collector to pay $2.4 million.
"This approach will result in virtually no town tax on property owners in the coming financial year," said Tire Board Supervisor Elizabeth Partey.
a difficult time
In previous years, Tyre used casino taxes to pay for infrastructure and road improvements. But as inflation kept the cost of living high, Tyre officials opted for a different route over the next 12 months.
We believe these actions represent a genuine commitment to our residents and represent a tangible step toward improving their financial well-being," Fati said. 바카라사이트 추천
"Our town council is sternly aware of our fiduciary responsibilities to the town's residents and property taxpayers. To this end, we have recently embarked on the diligent development and acceptance of a comprehensive multi-year capital plan and multi-year financial plan that has been thoughtfully created to better serve our communities," Fati added