The leaders of Delaware’s three racinos say a study shows the state’s gaming market is saturated and is likely to shrink.
The leaders of Delaware’s three racinos say a study shows the state’s gaming market is “saturated and is likely to shrink.”
The Delaware Gaming and Racing Industry which includes Dover Downs, Harrington Raceway & Casino, and Delaware Park asked Deloitte & Touche to analyze the gaming and racing market in the First State.
Delaware’s racing and gaming leaders say Deloitte & Touche reported that “adding new casino sites in the state will only further cannibalize a decreasing market and add significant pressure to the financial health of the existing casinos.”
The report also says Delaware casinos have seen a decline in business since 2007, citing new competition with casinos in neighboring Pennsylvania. Maryland has also approved casino development.
Momentum Analysis also conducted a statewide poll for the group that found 59% of Delaware voters oppose adding more casinos in the state.
The results of the study come at the same time Delaware’s newly-created Video and Sports Lottery Licensing Commission is awaiting the results of a gambling expansion study of its own from TMG and Associates.
The commission was created under the same legislation that authorized a sports lottery in Delaware, to study the feasibility of adding more casinos.
“They’re in business and they have their view of the marketplace,” Dennis Rochford, Chair of the Video and Sports Lottery Licensing Commission, said.
“I think when they produce this type of study it ought to be given serious consideration. I would also point out the marketing study being completed by TMG for the video lottery gaming commission is an independent entity and we expect to get some objective data and or recommendations and at that point I think everybody has the responsibility to look at all the information before them,” Rochford said.
The study for Rochford’s commission is expected to be completed by the end of December, with the full nine member commission scheduled to review it January 5.
The Delaware legislature convenes January 12, 2010.