Lago Resort & Casino hosts beam signing
Posted on February 3rd, 2016
TYRE — Lago Resort & Casino Co-Chairmen Thomas Wilmot Sr. and Brent Stevens were joined by more than 350 Tyre and Seneca County officials, Finger Lakes region labor and business leaders, and local residents at a ceremonial beam signing Friday on the future site of Lago Resort & Casino in Tyre.
After securing a casino license from the New York State Gaming Commission in December, the resort is on track to open in the first half of 2017.
“If it wasn’t for all of you, none of us would be here today,” Wilmot told local supporters. “I have said all along that we intend to build the best resort and casino in Upstate New York and that we will be the best neighbor the people of Tyre and Seneca County have ever had.”
Wilmot said the venue will attract hundreds of thousands of new tourists “who will taste local wines, visit local attractions, buy local goods, help local businesses succeed and expand, and help grow and strengthen the economy of the entire region.”
Lago will be a world-class destination resort, added Stevens.
“We eagerly anticipate the grand opening of our game-changing resort and casino and look forward to bringing new visitors to the Finger Lakes region,” he said.
Plans for the $425 million vanue off the New York State Thruway (Exit 41) include a casino and a 207-room hotel, spa, multiple restaurants and lounges featuring local fare.
Lago Resort & Casino will also feature Savor New York, a unique shop highlighting products from the region, including local wines, beers, whiskeys, food and crafts.
The casino will feature 2,000 slot machines and 85 gaming tables. Lago Resort & Casino developers expect the project to create 1,800 construction jobs and 1,800 permanent jobs once open. To date, Lago has received 3,000 employment inquiries from individuals, with more than two-thirds coming from Seneca County residents.
The $425 million Lago casino faces opposition and lawsuits from Finger Lakes Gaming and Racetrack (FLGR), a group called Casino Free Tyre, and the Oneida Indian Nation, which owns the Turning Stone and Yellow Brick Road casinos.
The existing facilities say Lago will take a significant bite out of business.
FLGR, which employs about 1,700, would have payed 79 percent of its revenue to state-mandated payments, while Lago would pay 37 percent on slot machines and 10 percent on table games. Governor Andrew Cuomo made way for a somewhat more level playing field in his proposed budget. FLGR is still unable to offer slot machines and table games.
Lago Resort & Casino is a partnership between Wilmorite Inc., which owns Eastview Mall in Farmington, and Peninsula Pacific.