Subject: Delaware Revenue
From: <[email-masked]>
To: "biden, beau" <[email-masked]>, "Biden, Hunter" <[email-masked]>, "Snyder-Mackler, Alex" <[email-masked]>, "Alcorn, Josh" <[email-masked]>
Date: Sat, 14 Mar 2015 17:43:11 +0000 (UTC)

The incredible Delaware shrinking revenue base. Three recent News Journal front page stories 

1. Casinos - 

http://www.delawareonline.com/story/news/local/2014/11/22/dover-downs-delaware-casinos-struggle/19395797/ 

Dover Downs has serious problems: 

• Regional casino competition has more than doubled in recent years. 

• Banks demanded the casino's mortgage as collateral when executives recently refinanced $42 million in debt. 

• Its stock price, which once stood at $19.64, closed at a record low of 72 cents this week, making it more difficult for casino leaders to raise capital. 

• Its tax burden is the largest in the region at 43.5 percent. 

2. Escheatment 

http://www.delawareonline.com/story/news/local/2015/03/14/ruling-threatens-delaware-unclaimed-property-revenue/70298680/ 

Ruling threatens Delaware unclaimed property revenue 

Key Delaware revenue collections could fall after a federal judge this week stirred uncertainty around the state's lucrative but controversial unclaimed property program. 

U.S. District Court Judge Sue Robinson on Wednesday refused to dismiss a lawsuit that argues Delaware's practice of estimating a corporation's unclaimed property liability is unlawful and violates constitutional due process rights. 

3. Incorporation 
http://www.delawareonline.com/story/firststatepolitics/2015/03/09/fee-shifting-delaware/24652817/ 

Chamber: Proposal threatens $1B corporate franchise 

Delaware's corporate law council, an influential group of lawyers, is backing legislation to prohibit corporations from shifting legal costs onto shareholders who file losing lawsuits, according to documents obtained by The News Journal. 

Opposition from the U.S. Chamber of Commerce delayed debate last year on a similar piece of legislation. Now, Chamber officials say the new proposal could threaten Delaware's billion-dollar incorporation franchise.