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Horse-Racing Wagers Fuel Dividend Payout
DELAWARE --
As corporations across the United States tighten their budgets and reduce workforces, Dover Downs Gaming & Entertainment, announced today they will pay a regular quarterly cash dividend on both classes of common stock to their shareholders. The dividend will be 5 cents per shares to those investors holding the stock as of August 10, 2008. The payments will be released early in the Fall.
During these tough economic times, the horse-racing industry has continued to post solid quarters of economic growth.
The US casino and gaming industry has been resilient despite tough economic times across the global economy. Without competition from online casinos, land-based gaming centers flourish. As you know, the UIGEA prevents players in the United States from placing financial transactions with offshore internet-based casinos.
With the enactment of the UIGEA during the end of the 2006 fiscal year, the horse racing industry was given permission to operate as usual, while all other forms of online betting were eliminated.
Dover Downs Raceway generates the majority of the revenues for Dover Downs Gaming and Entertainment. They primarily offer racing with pari-mutuel wagering on live and simulcast horse-races.
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