Earnings Report Shows Pressures for Delaware Casinos | NBC 10 Philadelphia

Earnings Report Shows Pressures for Delaware Casinos




    Members of a panel examining how to keep Delaware's gambling industry competitive will be scrutinizing the latest financial results from Dover Downs as they prepare to submit a report to lawmakers.

    Dover Downs Gaming and Entertainment on Thursday reported a narrower loss in the fourth quarter of 2013 compared to the fourth quarter of 2012, but the company said it barely eked out a profit for the full year.

    Net earnings for the year were only $13,000, compared to $4.8 million in 2012.

    Dover Downs officials attributed the decline in large part to intense competition from casinos in neighboring states and a burdensome revenue-sharing formula with Delaware's state government.

    The state panel looking at how to keep Delaware's three casinos competitive is expected to submit its report by Feb. 28.