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CODE5637
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CODE5637
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Max cash out:
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dover downs tier match

Dover Downs Casino. We believe that the DSOA agreement is typical of similar agreements in the industry. New York Stock Exchange. We hold a license from the Commission by which we are authorized to hold harness race meetings on our premises and to make, conduct and sell pools by the use of pari-mutuel machines or totalizators. We do not own or lease the slot machines or computer systems used by the State in connection with our video lottery gaming operations. In harness racing, competing horses are harnessed to a two-wheeled sulky, which carries the driver. Security over the gaming operations involves the integration of surveillance cameras, observation and oversight by employees, security and gaming staff, and various security features built into our equipment. The action of the Commission stands unless and until reversed by the Court. We are subject to various federal, state and local laws and regulations in addition to gaming regulations. The DSOA has been organized and exists for the purpose of promoting the sport of harness racing; improving the lot of owners, drivers and trainers of harness racing horses participating in race meetings; establishing health, welfare and insurance programs for owners, drivers and trainers of harness racing horses; negotiating with harness racing tracks on behalf of owners, trainers, drivers and grooms of harness racing horses; and generally rendering assistance to them whenever and wherever possible. All games will remain under the control and operation of the Delaware Lottery. In order to maintain our gaming license, we are required to maintain our harness horse racing license. The Lottery Director enters into contracts directly with the providers of the slot machines and computer systems and we are not a party to those negotiations. Television monitors throughout the area provide views of all races simultaneously and the betting windows are connected to a central computer allowing bets to be received on all races from all tracks. However, there can be no assurances that we will continue to be licensed by the Commission in the future. All of our operations are located at our entertainment complex in Dover, the capital of the State of Delaware. Under Delaware law, a change of ownership of a Licensed Agent will automatically terminate its license 90 days after the change of ownership occurs, unless the Lottery Director determines after application to issue a new license to the new owners. Licensing and Regulation by Gaming and Other Authorities. Dover Downs Raceway has presented pari-mutuel harness racing events for 44 consecutive years. Dover Downs Raceway. All existing or new officers, directors, key employees and owners of a Licensed Agent are subject to background investigation. The Commission may prescribe rules, regulations and conditions under which all harness racing and betting pools shall be conducted; may regulate the performance of any service or the sale of any article on the premises of a licensee; may compel the production of books and documents of a licensee and require that books and records be kept in such manner as the Commission may prescribe; may visit, investigate and place accountants or other persons as it deems necessary, at the expense of a licensee, in the office, track or place of business of a licensee; may summon witnesses and administer oaths; and may require the removal of any employee or official employed by a licensee. At our expense, the State purchases or leases all equipment and the Lottery Director licenses all technology providers. A licensee must deposit with the Commission, ten days before a race meeting, a policy of insurance against personal injury liability in an amount to be approved by the Commission. Similarly, but at no expense to us, the Lottery Director is expected to enter into contracts directly with internet service providers later in Our operations could be disrupted if a licensed technology provider violates its agreement with the State or ceases to be licensed for any reason. Securities and Exchange Commission. Smaller reporting company x. These laws and regulations include, but are not limited to, restrictions and conditions concerning alcoholic beverages, environmental matters, employees, currency transactions, taxation, zoning and building codes, and marketing and advertising. Delaware gaming licenses do not have an expiration date. In addition, any material increase in taxes or fees, or the adoption of additional taxes or fees, may have a material adverse effect on our future financial results. Delaware law regulates the percentage of commission we are entitled to receive from our gaming activities, which comprises a significant portion of our overall revenues. By offering a wide range of entertainment options to our patrons, including concerts featuring prominent entertainers, live boxing, gourmet dining, spa facilities, trade shows and conferences, we believe we are able to attract new patrons and lengthen the stay of current patrons and encourage visits from patrons who may have a more convenient gaming option. We have received an annual license from the Commission for the past 44 consecutive years and management believes that our relationship with the Commission remains good. Under the DSOA agreement, we are required to distribute as purses for races conducted at our facilities a percentage of our retained share of pari-mutuel revenues. Exact name of registrant as specified in its charter. Initially, the license was for video lottery operations but it now extends to our sports wagering, table game and internet gaming operations. Failure to satisfy the background investigation may constitute cause for suspension or revocation of the License. The following is a brief outline of some of the more significant regulations affecting our gaming operations and not intended as a recitation of all regulations applicable to our business. We anticipate that we will begin offering internet gaming in the third quarter of once the Delaware Lottery adopts regulations and secures contracts with internet service providers. These operations are contingent upon continued government approval of such operations as forms of legalized gaming and could be subjected at any time to additional or more restrictive regulations. The easement requires that we maintain the harness track but does not require the payment of any rent. Harness Racing and Pari-Mutuel Wagering. Dover Downs Hotel. Revocation, Suspension or Modification of License. Control Over Equipment and Technology. We are open for business 24 hours per day, seven days per week. The USTA sets various rules relating to the conduct of harness racing. Internet gaming participation will be limited to persons who meet the age requirements for equivalent non-internet games. The Commission may reject an application for a license for any cause which it deems sufficient and the action of the Commission is final. Due to the nature of our business activities, we are subject to various federal, state and local regulations. The license must be renewed on an annual basis. Large accelerated filer o. Our luxury hotel facility, the Dover Downs Hotel and Conference Center, is the largest hotel in the State of Delaware and connects to our casino. We believe our programs meet the requirements of the applicable regulations. Additional gaming venues have recently opened in Maryland, Pennsylvania and New Jersey. Harness Racing Events. As part of our license arrangements, we are subject to various taxes and fees which are subject to change by the Delaware legislature. In order to continue this historic use, DVD granted a perpetual easement to the harness track to us at the time of the spin-off. We believe that the prospect of significant additional tax revenue is one of the primary reasons why jurisdictions have legalized gaming. Employer Identification No. We enjoy a good relationship with representatives of DSOA and anticipate that this relationship will continue. There are similar licensure requirements for providers of equipment and certain companies that seek to provide services to a Licensed Agent. As some of these fees are fixed license fees payable without regard to the level of business we conduct, they may have a material adverse effect on our future financial results if we have a decline in revenues. We hold a license from the Harness Racing Commission authorizing us to hold harness race meetings on our premises and to offer pari-mutuel wagering on live and simulcast horse races. In order to maintain our gaming license with the Delaware Lottery, we are required to maintain our license for harness horse racing with the Harness Racing Commission and must conduct a minimum of 80 live race days each racing season, subject to the availability of racing stock. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. Our facility offers the most conference space of any hotel in Delaware and was expanded in the first quarter of to add 6, square feet of meeting space. State or other jurisdiction of incorporation. These taxes and fees are subject to increase at any time. FinCEN has also established regulations that require us to file suspicious activity reports on all transactions that we know, suspect, or have reason to suspect fall into specific categories that are deemed to be suspicious. We use sophisticated database marketing to enable us to develop long-term relationships with our patrons and to target promotions to specific customer segments. Documents Incorporated by Reference. Our licenses to conduct video lottery, sports wagering and table game operations, harness horse races and pari-mutuel wagering could be modified or repealed at any time and we could be required to terminate our gaming operations. Compliance with Other Laws. Under the law, the Commission has broad powers of supervision and regulation. We are subject to extensive federal, state and local regulations related to our operations, particularly our video lottery, sports wagering, table game and internet gaming operations, live harness racing and pari-mutuel wagering. Item 1. We are a premier gaming and entertainment resort destination whose operations consist of:. Licensing Requirements. The IRS also requires operators to withhold taxes on certain winnings. Non-accelerated filer o. Gaming Taxes and Fees. Our facilities are open every day of the year, except Christmas and Easter, and we estimate that the facility was visited by approximately 2.

United States. Laws and regulations are always subject to change, can be interpreted differently in the future, and new laws and regulations may be enacted which could adversely affect the tax, regulatory, operational or other aspects of the gaming industry and our company.

Internet lottery games will, at least initially, be offered solely to persons within the State of Delaware. Ownership Changes. Accelerated filer o. Such an event would be outside of our control and could adversely affect our gaming revenues. All proposed extensions, additions or improvements to the property of a licensee are subject to the approval of the Commission. As a result, gaming operators are typically subject to significant taxes and fees in addition to normal federal and state corporate income taxes. The Act also eliminates and restructures certain fees currently paid by video lottery agents to incentivize agents to make capital expenditures, spend on marketing and promotions, and make debt service payments. Address of principal executive offices. Pari-mutuel wagering is pooled betting by which the wagering public, not the track, determines the odds and the payoff. This territorial limitation would not apply to gaming pursuant to an interstate compact. The Commission may also suspend or revoke a license which it has issued and its action in that respect is final, subject to review, upon questions of law only, by the Superior Court of the County within which the license was granted. We have implemented extensive procedures for financial and accounting controls, safekeeping and accounting of monies, and security provisions. Washington, D.