The First State’s lone publicly traded casino posted another loss in the first quarter this year, but it still marks a path of upward trajectory.
Dover Downs Gaming & Entertainment, Inc. lost $239,000 during the first three months of the year, but that’s a big improvement from the first quarter last year when they bled more than $350,000.
Gaming revenue anted up by 1.5 percent – mostly from a higher table game take, according to the casino.
The company cut 72 jobs through attrition last year and slashed other operating expenses to help streamline the business.
The latest numbers are another bright spot for Dover Downs, which posted $1.8 million in profit last year, despite calling for another taxpayer funded bailout from the state legislature.
The bailout bill offered would cost the public $44.6 million over the next four years by upping casinos’ share of table game revenue and creating marketing and infrastructure tax credits, among other provisions.
In a statement, president and CEO Denis McGlynn said, "...if we cannot spend the marketing and promotional dollars that will bring repeat customers into Delaware, they will go to neighboring jurisdictions."
So far, the proposal has gotten little outward support and hasn’t been given a hearing yet. A similar bill last year never even made it to a committee due to other budget pressures.
