Griffo, Picente Concerned Over del Lago Casino’s Financial Struggles
Senator Joseph Griffo says the news that the del Lago Casino and Resort in Seneca County is struggling with revenue is disappointing, concerning and unsettling.
Griffo has written to Governor Cuomo and the State Budget Director to outline his concerns.
Griffo says he does not believe that bailing out the casino with taxpayer dollars is the appropriate way to address the issue.
The senator says he had concerns from the very beginning with the site selection process and the proliferation of gaming facilities throughout the state.
The developer who owns de Lago says since the casino opened last year, it has earned about 40 percent less revenue than projected.
Griffo is a member of the Senate's Racing, Gaming and Wagering Committee.
Oneida County Executive Anthony Picente has issued the following statement on the del Lago bailout:
"I have recently reached out to the Governor to express my opposition to a proposed corporate bailout of a casino that has consistently mislead the public and the gaming commission since its inception. It is even more clear now than it was then that del Lago should never have been placed in its current location, and that it would never reach its own overblown revenue projections. Every gaming, tourism and economic development professional knew those projections were impossible to meet. The projections and location were chosen to bolster Wilmot’s bid for a license and were not based on any concrete data or industry trends.
Del Lago is already a recipient of many local tax incentives such as PILOTs and economic development incentives, yet is still asking for nearly $15 million more in new tax breaks taken directly from the pockets of hard working New Yorkers. What del Lago is after is state money to pay its creditors so it doesn’t have to. It’s inexcusable and outrageous. This bailout hits the trifecta: bad business, bad government and bad for taxpayers."