Delaware’s governor signs casino bill

John Carney signed the bill that casinos were looking to pay lower taxes and get financial relief.

US.- Monday morning saw the Governor of Delaware, John Carney, sign into law the legislation that lowers taxes for the state’s three casinos and eliminates licensing fees. The bill had been approved by Senate lawmakers over the weekend.

Ed Sutor, CEO of Dover Downs Hotel & Casino, said that while casinos didn’t get everything they were looking for, he’s happy with the way lawmakers managed to obtain the new legislation. “There was compromise,” he said. “And we compromised and this is what would make it through the House and get back to the Senate.”

Sutor added that Dover Downs is to bring more gaming business to the state in order to help with finances, as well as horsemen and the tracks. The facility employs 4,000 people across the state and said that they’ve been struggling to stay in business without the tax relief bill.

The legislation was approved 17-3 on Saturday, and cuts the state’s share of gross slot machine revenue from 43.5 per cent to 42.5 per cent, as well as a two per cent reduction is a casino’s capital expenditures equal or exceeding three per cent of the net slots proceeds. The bill also cuts the gross table game tax rate from 29.4 per cent to 14 per cent and eliminates the licensing fee.