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Delaware looking to increase $95 million in gambling revenue
DOVER, Delaware -- As reported by The News Journal: "Delaware's casinos could pump an extra $95 million a year into the state's general fund by mid-2012 from stepped up slots traffic, new table
game ventures and sports betting, an industry official said today.
"But Dover Downs Chief Executive Officer Edward J. Sutor, at a meeting in Dover, said that new state taxes and fees for slots and sports betting could weaken overall returns, potentially discouraging growth and setting up a 'death spiral' for gambling centers.
"Sutor, who represents casinos and the horse racing industry on the legislature's Table Game Committee, made the point after releasing draft revenue forcasts for sports betting, table games and additional slots play generated by both changes.
"The Legislature declared its intent to allow table games such as poker, blackjack and roulette as soon as possible but lawmakers still have to vote on oversight and division of the profits.
"Lawmakers gave the three-member panel until July 28 to recommend terms for splitting table game revenues and provisions for oversight..."