Delaware Casinos And State Agree On Table Gambling Revenue Split

The state of Delaware has come under strong criticism for their endeavor into the world of legalized sports betting. While the four major sports leagues have filed suit against Delaware to stop the sports betting plan, the state and its casinos were focused on something else.

How to divide up revenue from the new table gaming that will be taking place in the state has become a hot topic of discussion between the three casinos in Delaware. On Tuesday, they all agreed on a resolution to the problem.

The casino industry was represented in negotiations with the state by Dover Downs CEO Ed Sutor. He confirmed Tuesday that the casinos have agreed to a split that would give 61.1% of the table game revenue to the casinos, 29.4% would go to the state, and 4.5% would be given to the state's ailing horse racing industry.

"If we turn this down there will be someone waiting in the wings who wants to build a casino who would say I'm willing to do it and we're more fearful of that," said Sutor. The decision was made out of the fear that legislators would make it even worse on the casinos had they not accepted.

Sutor believes the split that was agreed upon will not make any of the casino owners rich. he claims that the casinos should break close to even after the operating expenses are paid for running the table games. Still, some money ended up being better than no money for the casinos.

The state will now turn its attention towards defending their position on sports betting. Lawmakers have already agreed to allow sports betting starting in the fall. Pro sports leagues are against the plan, and are attempting to block Delaware from offering the sports gambling.

July 29, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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