Delaware Approves the Casino Relief Bill

The state of Delaware’s Senate has approved the motion of lowering gambling taxes via the ing of the bill, SB144, which is a move much fancied and hoped for by the state’s land casinos. This should provide significant financial relief for the under-fire casinos in Delaware.

The reason why they were under-fire is that the casinos in the neighboring states became too strong a competition, with their lower taxes and increased offers. The lowering of the taxes means that casinos will now not be forced into dismissing their workers, and will become more competitive, potentially stabilizing their operations in general. There still remains a debate and vote to be had in the State House of Representatives, but should it succeed there – which it most likely should – it will then reach the Governor John Carney whose signature will transform the bill into law.

The gambling taxes in Delaware are at an astronomical 43% of slot revenues and 30% of table game revenues. In addition to that, $3 million in table game licensing fees is annually taken by the state. The state currently has three land-based casinos. Senators voted 17-3 to the bill.

State Senator, Brian Bushweller, comments: “The simple fact is that the casino industry is very, very important for the local economy here in Kent. Yet over the years our practice of increasing the state’s take … has put Dover Downs and the industry in a precarious situation.”

Source:

“Delaware Casino Relief Bill Advances”, Jermalowicz Dustin, casinolistings.com April 27, 2018.