Delaware’s casino leaders are hopeful the state’s next governor will prioritize tax breaks for the gaming industry.
Executives from the state’s three casinos railed against high taxes during a state advisory council meeting Tuesday.
Dover Downs president and CEO Ed Sutor was among those expressing frustration.
“Deal with us the same way you deal with other departments. Allow us to be able to make a profit to so at least we can reinvest in this and get the revenues started back in the right direction,” Sutor said.
State lawmakers refused to consider a nearly $45 million bailout for the industry during the past two legislative sessions. But casino leaders are hopeful new leadership in the governor’s office will change their luck.
Sutor says lowering the taxes on slot machines to pre-recession levels would be a good start.
“Just reduce it to what it was before, or better yet, take it back to where it was when [the state legalized casinos] – a graduated tax. If things turn around and we start growing, the state will get more money, our rate will go up.”
Other options include dropping the tax rate on table games and offering millions of dollars in marketing and capital project tax credits.
In 2013 and 2014, the General Assembly gave the three casinos nearly $18 million in aid as multiple competing casinos opened in Maryland and Pennsylvania.
Sutor says revenue from slot machines has been steady, with hard numbers coming next week when the company files its second quarter earnings.
The publicly traded company posted nearly $2 million in profits for 2015.
A new bill is expected to be introduced next year.
