New 10News broke down the numbers for the state gambling commission to see what the casino was doing to correct the outlook for the property. Del Lago Casino and Resort in Waterloo opened to so much fanfare back in early March, but as soon as the dust settled it was clear that the property had not done enough to help its troubled reputation.
In a letter of intent the casino outlined plans for a complete makeover of the property. This would include updating all the exterior signage, adding new interiors and an outdoor game area that would connect to the main casino building. But when the casino announced its budget to break ground in April it quickly went back on the same spending plan it had set out before opening.
The casino’s first project was to put in a new gaming table and bar, and make other improvements to the interior of the facility including updating all the signage outside the front door with the hotel name and logo. But even this was only half the story because they had also set aside money to renovate the casino entrance to better compete with other casinos in the area.
But even with all the positive publicity surrounding the opening of the Del Lago Casino and Resort, the property still has not fully recovered from the financial crisis it encountered prior to opening. A recent report by KQED showed that casino revenues had fallen by nearly 35 percent in the past year, even as the rest of the property’s sales prices increased by an even larger amount. While many people will point to the fact that casinos in California are still booming, the fact is that the competition is only getting tougher in that state.
In addition to the problems that were highlighted by KQED the Del Lago Casino and Resort in Waterloo are facing another problem that is likely to cause even more damage to its image. Because of a dispute with the landlord of its property it was forced to close its doors for three weeks this past summer when the landowner refused to re-lease the property.
The casino is now trying to negotiate a deal to keep the landowner at bay in hopes that they can regain some of the popularity that they had prior to the controversy. Hopefully if the owners do not get back on track then they will be able to retain their current status as one of the most popular destinations in the Valley of the Sun.