- Del Lago playing an important role in boosting state and local budgets through tax revenues
- The casino marking a strong growth since it first opened back in February
Del Lago Resort & Casino Brings in $10.8 Million in Tax Revenues in the Second Quarter, located in the Finger Lakes and Southern Tier region, is turning out to be a great income generator for the state and local government.
In the second full quarter the casino has been open for business, it brought in close to $11 million in tax revenues shared between the state and local governments.
Important boost for the budgets
According to the state Gaming Commission reports, the exact amount of tax revenue generated by Del Lago Resort & Casino is $10,890,179.
Of this number, $8.7 million went to the state government, and the money will be used for property tax relieves as well as educational assistance. After the first quarter, the state government received $6.2 million, so the casino business is clearly going strong.
The rest of the tax revenue, just shy of $2.2 million, is divided between various local governments. Half of it went to the town of Tyre and Seneca County, the municipalities hosting the land-based casino.
Each of them received $544,000 and change. This is a pretty steep increase in comparison to the first quarter, where each government collected $389,162.
Other counties that profited from del Lago’s activities include Broome County ($584,468), Tompkins County (295,917), and Chemung County ($121,205).
In addition to these six figure payments, Schuyler and Wayne also got five-figure amounts.
Del Lago’s continued growth
Del Lago Resort & Casino opened for business in February of 2017 and if the first two quarters are any indicator, the casino has a bright business future ahead.
This translates into significant income for the state and local governments as well.
The state is the biggest beneficiary, with 80% of the total tax going to the state government, while the rest is equally split between the host counties (Seneca and Tyre) and non-host counties listed above.
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