Committee approves bailout to Delaware casinos
A legislative committee has agreed to give $8 million to Delaware's casinos as it wraps up work on a capital budget for the fiscal year starting July 1.
The committee voted unanimously Thursday for a capital spending plan that is tens of millions of dollars higher than the $423 million plan proposed by Gov. Markell in January.
Using some $50 million in newly available funds from increased revenue estimates and bond premium proceeds, the committee approved Markell's recommendation to extend an $8 million financial bailout for Delaware's three casinos to help cover anticipated increases in slot machine vendor costs.
The capital budget, which the House and Senate will vote on next week, includes about $190 million for transportation projects and more than $103 million for school construction and renovations.
Copyright © Oct 31, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
Advanced permission from Delmarva Broadcasting Company required for publication or rebroadcast.