DOVER, Del. --- Delaware Gov. John Carney on Saturday signed a casino tax relief bill into law, a measure aimed at giving a financial lift to the state's struggling gaming industry.
The new law drops the state's share of slot machine revenue to 42.5 percent or 41.5 percen,t depending on how much money is collected in gaming revenue. It also halves the table game tax to roughly 15 percent.
Delaware will lose approximately $11.4 million in the upcoming fiscal year and $16.8 million thereafter. The Senate initially approved legislation that would have cost the state up to $20 million, though a new version of the bill was passed on Thursday as part of a compromise bill negotiated in part by House Speaker Pete Schwartzkopf, who believed the state was giving up too much revenue.
A tax relief package has long been sought by leaders at Delaware casinos who said the state's take on gaming revenues was too high. Dover Downs posted a $1 million in 2017 and leaders there have said jobs will be at stake if gaming taxes are not lowered.
