The owner of del Lago Resort & Casino is exploring a possible sale of the Seneca County gambling property and several others amid a reprioritization of the corporation’s long-term plans.
The potential sale was mentioned in a regulatory filing with the U.S. Securities and Exchange Commission on July 29. Churchill Downs Inc., a Louisville-based entity that hosts the Kentucky Derby, said it is exploring options to sell nine casinos after a comprehensive review of its gaming portfolio.
The company, however, said it cannot say for sure whether del Lago ― or any of the properties ― will be sold and it does not have a timeline. Churchill Downs said it does not intend to provide further updates unless required by law.
del Lago Resort & Casino opened in 2017 off Thruway Exit 41 in Seneca County. It featured a 96,000 sq. ft. casino with approximately 1,700 slot machines, 80 table games, a 205-room hotel, nine restaurants and bars, a 6,000 sq. ft. sportsbook area and two entertainment venues.
But the casino initially fell short of lofty revenue projections. Two years after it opened, Wilmorite, a Rochester-based development firm, sold its 50% share to the casino’s founding partner, Peninsula Pacific. In 2022, Churchill Downs bought out the casino for $2.5 million.
The most recent filing with the New York State Gaming Commission shows del Lago took in $168,652,089 in gross gaming revenue during the last fiscal year, which ended in March.
Other properties under review include casinos and resorts in Florida, Indiana, Iowa, Maine, Maryland, Mississippi and Pennsylvania. The review comes as regional casinos face increasing competition for gambling and entertainment dollars, including from mobile sports betting and nearby gaming properties.
— Kayla Canne covers community safety for the Democrat and Chronicle with a focus on immigration, police accountability, government surveillance and how people are impacted by violence. Follow her on Instagram @bykaylacanne. Get in touch at kcanne@gannett.com.
This article originally appeared on Rochester Democrat and Chronicle: Owner explores sale of del Lago casino in Seneca County
Reporting by Kayla Canne, Rochester Democrat and Chronicle / Rochester Democrat and Chronicle
USA TODAY Network via Reuters Connect
By Kayla Canne, Rochester Democrat and Chronicle | USA TODAY Network
