Delaware Online – A public task force created to review the state of Delaware’s casino industry and consider a possible restructuring of gambling tax rates has decided to hold talks with casino operators behind closed doors.
The Lottery and Gaming Study Commission, created by legislation passed earlier this year, will convene an executive session next month with representatives from the state’s three casinos to discuss their proprietary financial information.
Executives from all three casinos made presentations to the commission at a public session Tuesday about the negative effects of growing regional competition and state taxation on their businesses, but only one operator documented losses.
Denis McGlynn, CEO of the publicly-traded company that runs Dover Downs, said his firm operated $320,000 in the red from the last quarter of 2012 through the second quarter of this year.
Executives from Delaware Park and Harrington Raceway and Casino would not provide financial details for their privately held companies. Harrington CEO Patti Key said her casino is not now profitable, but would not elaborate.
Secretary of Finance Tom Cook, who chairs the commission, suggested a closed session to review financial information.
None of the commission’s members objected.
