Notizie dagli operatori
US – Struggling del Lago asks for tax breaks and a fair marketplace
By Phil - 28 marzo 2018
Having only been open for just over a year, the US$440m del Lago Resort & Casino in the Finger Lakes in Upstate New York is hoping to secure a better tax rate to ease its struggling revenues.
It has accused one of competitors the Seneca Nation of Indians in western New York of not paying its taxes and reinvesting that cash on marketing incentives to take players from del Lago saying this was ‘a blatantly unfair competitive disadvantage.’
Tom Wilmot, the main Owner of the casino, said the property needed ‘some help’ adding that whilst it was ‘paying the bills’ the venture would not be ‘sustainable’ long term.
Casino spokesman Steven Greenberg explained that the Seneca Nation ceased making tax contributions to New York state and to the local governments last year. allowing it to reinvest $50m into additional promotions and incentives in the Rochester area, to take customers from del Lago. He has asked for ‘a fair, competitive market place.’
Del Lago pays 37 per cent to the state on its slots and 10 per cent on its table games whilst the Oneidas are taxed at 27 per cent of the slot revenue but nothing on the table games revenue.
The Senecas slammed del Lago’s claims, saying they had ‘unrealistic expectations’ when they applied for their gaming license.
The property fell $100m short of its estimated first year of earnings and was downgraded by Moody’s in January from ‘stable to ‘negative.’
Keith Foley di Moody's ha dichiarato: “Nonostante il fatto che del Lago Resort Casino abbia aperto nei tempi previsti e rispettando il budget e abbia sostanzialmente aumentato i ricavi totali di gioco generati nella sua area di mercato principale, l'incremento dei ricavi della struttura è ben al di sotto delle aspettative di Moody's. Senza un sostanziale miglioramento dei ricavi, del Lago non sarà in grado di raggiungere un livello di performance in grado di supportare la struttura del capitale di debito esistente”.
Del Lago ha aperto il 1 febbraio 2017 con quasi 2,000 slot machine e 100 giochi da tavolo. I suoi proprietari avevano previsto un fatturato di gioco del primo anno di 250 milioni di dollari.
It generated around $147m in revenue in its first year around 44 per cent below expectations.
