March 09, 2010 7:14 AM
by Ray Poirier
Increased taxes and fees ate into the profit of Dover Downs Gaming & Entertainment Inc. (DDE) during the fiscal fourth quarter.
Net earnings were $1.8 million or $0.06 per share compared to the previous year when earnings were $3.5 million or $0.11 per share.
However, the tax increase of $3.5 million reduced the earnings per share by $0.07.
For the fiscal year, net earnings were $11.2 million or $0.35 per share, down from $19.5 million or $0.61 per share in 2008.
The company said that a decrease in just over 1 percent in slots revenue was offset by sports betting revenue during the year.