A compromise bill passed by the Delaware state house looks set to finally bring forward a raft of casino tax relief measures that operators have be pursuing for more than a decade.
With competition in neighbouring states steadily growing, Delaware operators have long sought a reduction of gaming taxation in order to stay financially viable. The latest draft bill seeks to address these concerns and would see the casinos’ tax burden lessened by $16.8m.
This would be made up by a one percent drop in slot revenue tax and that of table games cut by almost one half.
“If you look at what the industry has generated for the state over the years, it’s close to $4 billion,” said Denis McGlynn, the CEO of Dover Downs.
“We are in a partnership with the state, along with the horse racing industry, and I think this legislation shows law-makers are grasping that we need all three partners to be healthy.”