WATERLOO — After a 12-minute executive session Tuesday, the Seneca County Industrial Development Agency Board of Directors voted 5-0 in favor of a plan to consolidate financing for del Lago Resort & Casino.
Steve Brusso, Bruce Murray, Jeff Shipley, Don Trout and Steve Wadhams voted in favor. Tom Kime, Tom Murray and Menzo Case were absent.
Del Lago opened Feb. 1, 2017. The casino was owned and operated at first by the Wilmot family of Rochester and Peninsula Pacific Entertainment (P2E), which is headquartered in Richmond, Va. Both had a 50% interest.
In August 2019, P2E, which is headed by Brent Stevens, acquired the Wilmots’ interest for an undisclosed price. At the time, P2E indicated it would refinance or consolidate the financing for the project with its other assets. That move has been delayed by the COVID-19 pandemic.
The IDA voted in December 2015 to provide the original developers with a financial incentive package that included exemptions from sales and the mortgage recording taxes, and a payment-in-lieu-of-taxes agreement.