Delaware Casinos Resist Further Competition
The gaming industry and the State of Delaware are finding themselves at a crossroads in today’s downturn economy. The State of Delaware has three operating casinos. In today’s economy, they are finding it extremely difficult to maintain their revenue income.
The State of Delaware, likewise, is also trying to beef up its flagging revenues. With the slippage of revenue income from the three casinos, the state is looking to increase the number of operating casinos in the state. The three already existing casinos are not happy with the idea, so they are asking the state to listen to public opinion and not expand to more casinos.
The State of Delaware has faced severe revenue shortages since the court decision to deny the state single game sports betting. That, coupled with the expansion of gambling in surrounding states, has both the State and the casino operators crying. The casinos say that they cannot stand any more competition, and the state worried about the state’s income levels.
State House Majority Leader Pete Schartzkopf stated: „My responsibility is not to make sure each of the casinos maximize their profit. It’s time that instead of looking at three casinos we look at the entire state.“
Casino executives had a survey made of 600 Delaware residents, which showed that 52 % did not think any new casinos were needed. But proponents of casino expansion say the study was flawed and biased.
A separate study by an auditing company supported the casino operators on gambling expansion.
A report by Deloitte and Touche LLP stated,”Adding new casinos in the sate will only further cannibalize a decreasing market and add significant pressure to the financial health of the existing casinos” .
Author: GamesAndCasino