Dover Downs has serious problems:
• Regional casino competition has more than doubled in recent years.
• Banks demanded the casino's mortgage as collateral when executives recently refinanced $42 million in debt.
• Its stock price, which once stood at $19.64, closed at a record low of 72 cents this week, making it more difficult for casino leaders to raise capital.
• Its tax burden is the largest in the region at 43.5 percent.
After spending $283 million to build and later expand the casino over the past 18 years, its owners say they are fighting for their lives. And its fate has a direct impact on central Delaware and state taxpayers.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Place has no personality. Hosts are rude. Dealers are rude and look bored to death. Its like a funeral parlor. Why go....
ReplyDeleteAt a 44% tax burden, plus a mortgage to pay down, how can they let even one person win anything? It must suck to go there...
ReplyDeletethe horse racing sucks!! no patrons in the clubhouse?? poker, likewise?? too much greed.
ReplyDelete