Dover Downs reports small loss as company pays $56 million+ to state and horsemen

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Dover Downs Gaming & Entertainment, Inc. reporting a small loss in the third quarter..

Gaming revenues of $39,503,000 were down 4.3 percent compared to the third quarter of 2016. The revenue decrease was primarily attributable to lower slot machine revenue.

Other operating revenues of $5.6 million, down 3.9 percent compared to the third quarter of 2016 from small decreases in most non-gaming operations. Occupancy levels in the Dover Downs Hotel were 89.5 percent for the third quarter of this year.

Net loss was $137,000, compared with net earnings of $520,000 for the third quarter of 2016.

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Denis McGlynn, the company’s CEO stated:“It should be apparent that the State’s gaming revenue sharing formula is unsustainable when considering that the company has paid out $56.4 million to the State and the horsemen, while incurring a pretax loss of $366,000 through the first nine months of this year. We will continue to pursue a more equitable approach to this industry.”

Efforts to aid the industry have gone nowhere, due to the state’s long-term

Dover Downs Hotel & Casino has 2,200 slots and a full complement of table games including poker.

Their hotel is Delaware’s largest with 500 luxurious rooms/suites and amenities including a full-service spa/salon, concert hall and 41,500 square feet . of multi-use event space. Live, world-class harness racing is featured November through April, and horse racing is simulcast year-round. For more information, visit www.doverdowns.com.

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