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Dover Downs Shows Great Returns

With the release of its financial statements for the three months ended September 30th, Dover Downs Gaming and Entertainment, Inc. showed just what it was made of. The slots company has been slowly and steadily gaining strength, with a $.02 increase per diluted share for the same time last year.

Their net earnings went up 6.3%, to give them a total of $7,435,000 – an increase of $441,000 over last year’s third quarter. The company says that it is due to their video lottery win and harness racing commissions, as well as their other slots and gaming revenues. For the current nine months for the year, the company is already showing an increase in revenue of 7.7% or $20,720,000.

The company reports that they had a strong quarter because of all of the additional events they have taking place. They have their expansion almost complete on the Dover Downs Hotel, which will give them a total of 500 rooms by the beginning of next year. With these additional rooms, they are seeing a large increase in revenue, as they have doubled the number available.

They have other slots and casino projects underway as well, including Colonnade, which will add 70,000 sq ft of slots and casino area, as well as restaurants and retail space. It is expected to be completed by next summer. The company is known for its Dover Downs Slots, their 97,000 sq ft casino complex that offers all the latest in slots and electronic table games.

Back to November 2007 Archive.