New York casino makes initial payment; development ahead of schedule

of New York's forthcoming new casinos has made its first payment to the State Gaming Commission.

Del Lago Resort & Casino in Tyre, which has changed its name during development, paid an initial $50m towards its licence fee.

“We are delighted to announce the del Lago Resort & Casino has fulfilled its initial obligation to New York state and made the $50m payment for the cost of our casino license,” said del Lago co-chairman Brent Stevens.

“We are even happier that $10m of that money will be flowing back to the town of Tyre, Seneca County and other local governments in the region.

“This is just the first return on investment that the people of New York and this region will be getting from del Lago, with many more to follow.”

Three New York licences were awarded in December 2014, including the $425m del Lago development in Tyre.

When first announced in December 2013, the project was known as Wilmot Casino Resort, before changing to Lago Resort & Casino the following June.

Earlier this month the name changed again, albeit more subtlety, to del Lago Resort & Casino.

Construction on the project, which is being developed by the partnership of Peninsula Pacific and Wilmorite, is said to be progressing ahead of schedule.

The resort's casino is scheduled to open in February 2017, with the overall complex expected to launch later that year.