Delaware casino demands tax cuts, threatens layoffs
Dover Downs casino says it may lay off hundreds of workers and shutter restaurants if Delaware lawmakers don’t lower the company’s taxes.
The News Journal reports that casino executives have been meeting with legislators and members of Gov. Jack Markell’s administration. The legislative session closes June 30.
Markell continues to resist such a deal to lower casino taxes. The state continues to rely on casino revenue to balance its budget.
Dover Downs has $60 million in debt and is facing new competition from new casinos in Maryland. The casino lost $283,000 in the first quarter of the year. In the same period last year, it had a $2.4 million profit.
Dover Downs Chief Financial Officer Tim Horne warned of “draconian” cuts beginning next month without a tax deal.
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