Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Maintaining Cards Close

Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Maintaining Cards Close

The Delaware casino that is land-based happens to be struck hard by increased competition from brand new markets in neighboring states, as the more recent and shinier casinos of Pennsylvania and Maryland outperform its three struggling, and highly taxed, racinos.

Dover Downs is Delaware’s biggest and only publicly traded racino, but high taxes that are domestic increased competition across the state line means hard times for the property as well as the state’s two other racinos.

The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the Pennsylvania began issuing its first casino licenses, when slot revenues hit more than $650 million year. By 2016, slots and table revenues combined had plunged to $398 million.

Meanwhile, outfall from the new MGM nationwide Harbor, which launched in Maryland year that is late last stands poised to be the final nail in the coffin. That property caused other casinos in Maryland and West Virginia to ramp up their own marketing drives, drawing even more customers away from Delaware’s ailing properties.

The three racinos cannot compete because they spend higher state taxes than their counterparts across the border, and they are begging legislators for help.

Taxed Out From the Market

This week, the Delaware’s Video Lottery Advisory Council (VLAC) met to talk about the status of Diamond State’s three casi (more…)

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Japan Not Any Longer Offers Las Vegas Casino Companies’ Undivided Attention, as Brazil Emerges as Target

Japan Not Any Longer Offers Las Vegas Casino Companies’ Undivided Attention, as Brazil Emerges as Target

The major Las Vegas casino companies have been concentrated on Japan’s forthcoming gambling market for months, but the Asian nation no longer has their complete attention.

The pool in Rio where Michael Phelps won his record 23rd gold medal now sits in disrepair. Billions in debt, Brazil is searching to legalize gambling to greatly help offset its losses, and Las Vegas casinos are chomping during the bit.

Nearly 11,000 kilometers away in South America, Brazil’s steps to quickly legalize casinos has attracted the eyes and ears of most world’s leading gaming and hospitality conglomerates.

Las Las Vegas Sands and Caesars Entertainment both recently confirmed they are actively evaluating Brazil for possible expansion.

Owned by billionaire Sheldon Adelson, Sands has a good amount of experience casinos that are operating regarding the united states of america. The entire world’s richest casino company has numerous properties in Macau, China’s special gaming enclave, as well as the $8 billion Marina Bay Sands in Singapore.

Almost out of bankruptcy, Caesars can be devoted to growing its brand internationally. That is clearly a big modification for the corporation which has largely focused on domestic properties throughout its history.

‘You’re looking at just what could be significant markets,’ Caesars Executive Vice President of Public Policy Jan Jones Blackhurst told the Las Ve (more…)

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