Q: What Delaware business (a monopoly), celebrates its own bad management in order to suck up tax dollars?
Dover Downs loses money again
Oct 26th, 2017 · by Matt BittleDOVER — Dover Downs lost $137,000 in the third quarter of 2017, leaving it $289,000 in the red through nine months of the year.
The casino announced the figures Thursday in its quarterly filing. Dover Downs made $520,000 in the July through September period of 2016 and was up $1.08 million at this point last year.
“It should be apparent that the state’s gaming revenue sharing formula is unsustainable when considering that the company has paid out $56.4 million to the state and the horsemen, while incurring a pretax loss of $366,000 through the first nine months of the year,” company President and CEO Denis McGlynn said in a statement. “We will continue to pursue a more equitable approach to this industry.”
How much did McGlynn and the genius executive team make while the company was “losing” $137,000?