The state’s three casinos are getting the state relief they’ve been seeking under legislation signed by Gov. John Carney.
Under the new revenue sharing structure, the state gives up one percentage point of its slot revenue take. It also suspends the table gaming license fee and cuts the state’s share of table game revenue by about 14 percent.
Ed Sutor, CEO of Dover Downs Hotel & Casino, said the casinos didn’t get everything they wanted, but he’s happy with the deal lawmakers worked out.
“There was compromise," he said. "And we compromised and this is what would make it through the House and get back to the Senate.”
The new law cuts state’s share by an estimated $11.4 million next year and $16.8 million after that. The casinos have agreed to spend a certain amount of the relief on capital investments, marketing and jobs.
Sutor said Dover Downs will do its part to drive more gaming business to Delaware to benefit the state, the horsemen and the tracks.
The casinos employ about 4,000 people across the state and have argued they’ve been struggling to stay in business without tax relief.