News Business Sole Owner Takes Control of Del Lago

Sole Owner Takes Control of Del Lago

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 The Del Lago Resort and Casino now has a sole owner. There had been two owners since the casino was opened a couple of years ago. Now there is just one after builder Tom Wilmot Sr. decided to sell his 50 percent share of the business. 

Now the Del Lago Resort is solely owned by Peninsula Pacific and it is hoped this will end a difficult time for the casino. 

It was in 2011 that the New York state governor gave the local Wilmot family the go-ahead. The desire was for a Finger Lakes casino resort that would compete with the existing tribal casino. Another reason is the fact that tribal casinos don’t pay taxes, commercial ones do. 

However, it wasn’t until 2017 that the casino opened. A long legal battle with the Oneida Nation had to be fought. They claimed a new casino would violate the agreement the tribe had negotiated with the state. 

The huge amount spent on legal fees meant the Wilmot family now needed a partner. That’s when Peninsula Pacific came in. The new casino has nearly 2000 slots, 85 table games and 14 poker tables with the resort also having a spa and nine restaurants. 

The casino and the partnership didn’t work out as well as expected. Neither of the partners had gaming management experience. A third party who did was employed to run the casino but found themselves being given different instructions by the two partners. Their attempts to implement policies that would increase revenue kept being denied. 

Now with just one owner to deal with it’s hoped the situation will improve. Both the property management company and Peninsula Pacific are pleased with what has happened. The Wilmot family say they will now concentrate on their building projects. 

There are still problems in the Finger Lakes region. The nearby Resorts World Catskills is facing bankruptcy as the number of anticipated gamblers has failed to reach the expected levels. Del Lago also has a debt problem and poor attendance figures, changes are needed so it will be interesting to see just what happens in the future and how soon changes will be made. 

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