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Delaware casinos could soon be in the money; tax cuts on the table

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September 16, 2011

Delaware

By David Godow

DOVER, Delaware:

Delaware's casinos may get a boost in the near future, as Dover considers tax cuts on the state's three casinos. According to casino execs, the industry has been hit hard by the weak economy and new gaming outlets in Maryland and Pennsylvania. As a result, Delaware Secretary of Finance Tom Cook has indicated the state may let casinos keep more of their earnings.[1]

The state currently receives 43.5% of casinos' slot machine proceeds, 29.4% of table winnings and half of all legal football and horse-racing wagers. Additionally, each casino pays a proportionate share of the $10.75 million annual casino licenses. Still, lower taxes may be a non-starter for legislators wrestling with lower revenues across the board. Rep. Gregory Lavelle noted that many businesses could benefit from reduced taxes.

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