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Dover Downs Gaming Q3 profit falls YOY

Dover Downs Gaming & Entertainment Inc. said its normalized net income for the third quarter amounted to 2 cents per share, a decrease of 16.8% from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $499,380, a decline of 16.5% from $598,130 in the year-earlier period.

The normalized profit margin dropped to 1.1% from 1.3% in the year-earlier period.

Total revenue totaled $47.1 million, compared with $47.2 million in the prior-year period, and total operating expenses totaled $46.1 million, compared with $46.0 million in the year-earlier period.

Reported net income decreased 33.1% from the prior-year period to $644,040, or 2 cents per share, from $962,580, or 3 cents per share.