National gaming company announces deal to buy del Lago casino in the Finger Lakes

Louisville, Ky.-based Churchill Downs Inc. announced today that del Lago is part of its $2.5 billion acquisition of gaming facilities in New York, Virginia and Iowa currently owned by Peninsula Pacific LLC of California.

Peninsula Pacific was an original 50% owner of the casino near the Waterloo exit of the New York State Thruway. In 2019, Peninsula Pacific bought out the other 50% shareholder, Rochester developer Thomas Wilmot and his company, Wilmorite.

Wilmot had been the principal figure in the effort to bring one of the state’s commercial casinos to the region, first attempting to place it in Rochester and later settling on the Finger Lakes.

They compete with seven full-service casinos operated in Upstate New York by the Oneida, Seneca and Akwesasne Mohawk nations, along with smaller gaming facilities like racinos.

The del Lago acquisition comes as New York state considers accelerating the opening of up to three full service casinos in the New York City area. Some experts say casinos in and around the city could undermine the profitability of the Upstate casinos.

Del Lago has a 96,000 square-foot casino with about 1,700 slot machines, 80 table games, a 205-room hotel, nine restaurants / bar areas, a 6,000 square-foot sportsbook area (operated by DraftKings), a 2,400-seat indoor entertainment venue and a 7,200 square-foot outdoor event venue.

The deal must be approved by the New York State Gaming Commission, among other regulators. The sale is expected to close by the end of this year.

“The change in ownership will not result in changes for employees or their roles and there will not be any significant impact to our valued business partners or guests,” Lance Young, del Lago’s general manager, said in a statement. “I am enthused that del Lago Resort & Casino is becoming part of an iconic company that continues to revolutionize our industry. ... Our team will be laser-focused on continuing to provide an unforgettable experience for our guests while also burgeoning our strong partnerships with local and state leaders.”