It's been a transformative 2018 for Dover Downs Entertainment (DDE). At the start of the year, DDE stock had lost 91% of its value over the preceding decade. Increasing competition - notably through gambling legalization in neighboring Maryland and Pennsylvania - pressured revenue. Efforts to reduce state-level taxes had failed repeatedly, leaving operating margins close to zero. (GAAP operating margins in 2017 were 0.13%, per the 10-K.)
DDE now has risen 187% so far in 2018, behind three key catalysts. Tax relief finally passed the Delaware House, which suggests ~$7 million in