The troubles that have befallen the Delaware gambling industry are a well known fact and it looks like the casino owners will get a relief from the challenges they face up to on a regular basis.
It has been officially announced recently that the authorities of the casino venues in Delaware will join forces in the battle against the outdated rules and regulations, concerning the local gambling sector.
Representatives of the three casinos are about to ask the Delaware regulators to reconsider the imposed laws, especially those, concerning the revenue-sharing procedures. Failing to convince the lawmakers that the laws need some amenities will result in inevitable bankruptcy. What’s more, the casinos will not remain competitive to the venues in the other states for too long unless the Delaware authorities make the changes necessary.
Video Lottery Advisory Council will be responsible for refining the regulations for the slots income. Casino representatives proposed the following scheme: when the income is decent, casinos pay a higher tax; when the sales go down, the tax rate should understandably get lower.
It is a common knowledge that the situation with the casinos in Delaware hasn’t been too bright in the recent years. The authorities have often received financial relief requests during the years.
Now, they have finally agreed to reconsider the regulations and eventually implement some amenities. The Chairman of the Video Lottery Advisory Council, Ed Sutor, commented that the changes, the casino representatives ask for, might turn out to be the best solution to the financial crisis the Delaware casinos found themselves at.
The representatives also require a change of the taxes they are supposed to pay for providing the players with table games. They want the rates to be lowered or half of the revenue to be set aside for helping the casinos pay the expenses for labor-intensive games. The remaining sum can be distributed among the other branches of the gambling industry in Delaware.
The casino delegates proposed the tax to be lowered with 25%. For the time being, every casino owner pays nearly 40%. Once the new changes are imposed, the tax will be only 15%.
Ed Sutor agreed that the taxes for table games in Delaware are a bit higher, compared to the taxes in the other states and urged the council members to change that as soon as possible.
The authorities also have to revise the regulations, concerning the vendor fees of the slot machines. Casino representatives proposed these fees to be covered by the state shares before the distribution of the revenue.
Needless to say, the proposals met the opposition of the representatives of the horse racing sector. They expressed their resentment towards the tax relief suggested. If the changes, proposed by the casino representatives become official, the horse racing sector will be greatly affected.
The council members have one more week to make a final decision. Then, the amenities will be submitted to the Delaware government authorities and officially announced.
