Delaware Governor Agrees to Start Casino Tax Cut Talks

John Carney, the Delaware Governor as agreed that talks about the proposed casino tax relief reform should not begin immediately. This was reaffirmed by Richard Geisenberger, the Secretary of Finance of the Senate Finance Committee who was also of the thought the negotiations should begin immediately.

The supporters of the proposed bill believe that slashing casino taxes is a necessary step that will go a long way in ensuring that the state’s three casinos stay competitive, otherwise they are likely to end the year in a loss.

Speaking on behalf of Governor John Carney, who is considered to be one of the main opponents of the proposed Senate Bill 144, during Wednesday’s Senate Finance Committee meeting, Secretary of Finance Richard Geisenberger pointed out that the casino tax reform has been delayed for too long. He went further to mention that the prolonged negotiations have been underway since Governor Carney took office and that this instance was the third time that legislators were attempting to slash casino taxes in the state. Finally, he admitted that problems with the state budget from last year have made the reform less attractive to discuss. Geisenberger, however, assured the committee that Governor Carney was committed to finding a feasible solution that would ensure that the good partnership between the state and the casino remains intact.

The current Delaware taxation rules require that casinos pay 20 percent of their table games revenue and 43 percent of their slot machine revenue. In addition to this, there is a fixed $3 million licensing fee for table games. Obviously, this is great for state coffers but some lawmakers and industry representatives are of the opinion that the structure inhibits or even stunts the growth of the gambling venues by not allowing them to upgrade their offerings, make investments, or even increasing employ salaries.

Senate Bill 144 which was re-introduced earlier this year is primarily sponsored by Senator Brian Bushweller – during the Wednesday meeting he pointed out that the situation cannot and that the casino taxes must be reviewed as soon as possible.

More News

Does Mobile Sports Betting Have a Future in New York?
At the beginning of April 2019, New York lawmakers opted to leave mobile sports betting out of the state’s FY
Read more.
Two Arkansas Racetracks Reopen as Full-Scale Casinos
In November 2018, Arkansas was one of the states that were voting in favor in of gambling expansion. Earlier this
Read more.
West Virginia Legalizes Online Gambling and Poker
West Virginia is now the fifth state in the United States to have given the green light for an online
Read more.
Virginia Advances Casino Gambling, Sports Betting Bill
The Virginia General Assembly has made a historic move by supporting the legalization of sports betting and casino gambling by
Read more.
St Patrick Smiles on Hawaiian Who Wins $1m in Las Vegas
Las Vegas is a place where quite a few interesting stories begin, and sometimes even end. A Hawaiian visitor of
Read more.
Bet365 Prepares to Debut in the United States
Renowned United Kingdom-based online gambling operator Bet365 is a step closer to offering its gaming services to the growing sports
Read more.
Carl Icahn Ups Stake to Become Caesars’ Largest Shareholder
Entities related to New York billionaire, Carl Icahn have in the past week purchased 38.9 million shares of Caesars Entertainment
Read more.
Keystone State Marks March Gambling Awareness Month
Jennifer Smith, the Keystone State’s Drug and Alcohol Programs (DDAP) Secretary has today officially kick-started the activities that mark Mars
Read more.
Virginia General Assembly Passes Casino Legislation
Last Saturday, the General Assembly of the state of Virginia passed compromise legislation that would effectively introduce the state –
Read more.
AGA Pens Advisory Letter on Gaming Priorities to US Congress
The United States’ gaming industry has seen a lot of ups and downs but it goes without saying that it
Read more.
Scroll Up