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Delaware, casinos reach deal on revenue

29 July 2009

DOVER, Delaware -- As reported by The News Journal: "The state and it's three casinos reached an agreement today on how the revenues from table games will be divided.

"Dover Downs CEO Ed Sutor, who represented the casino industry, said they were willing to accept a split that will give 29.4 percent of revenues to the state, 66.1 percent to the casinos and 4.5 percent to horse racing.

"The industry will also pay a collective $13.5 million annual license fee that could be reduced if the casinos make capital investments or reach a revenue goal.

"Estimates put the first year's total revenue for table games at $108 million, a figure that would mean about $30 million for the state in the 2011 fiscal year..."

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