Friday, April 26, 2013 - 8:52am
Competition hurting Dover Downs
Updated Friday, April 26, 2013 - 8:59am
Dover Downs is blaming additional competition in the region for sharply lower revenues in the first three months of the year.
The News Journal reports Dover Downs Gaming and Entertainment reported a $283,000 first quarter loss on Thursday. The casino reported $50.5 million in revenues in the quarter, compared to $64.1 million a year earlier. Gambling revenues were down 22.5 percent.
The casino says the losses reflect more competition in the market, including the opening of the Maryland Live casino in June - the Dover casino's biggest competition in the region.
Delaware Lottery Director Vernon Kirk says slots revenue was down almost 19% at all three Delaware casinos during the first quarter, year over year. He cites competition and the economy.
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