Credit Facility	9 Months Ended
Sep. 30, 2016
Credit Facility
Credit Facility	NOTE 4 — Credit Facility On September 1, 2016, we modified our credit agreement with our bank group. The credit facility was modified to: extend the maturity date to September 30, 2017; adjust the maximum borrowing limit from $40,000,000 to $35,000,000 as of March 31, 2017 and through the date of maturity; modify the maximum ratio of funded debt to earnings before interest, taxes, depreciation and amortization (the “leverage ratio”); and delete the minimum consolidated tangible net worth requirement and the minimum consolidated earnings before interest, taxes, depreciation and amortization requirement. The credit facility also contains a minimum fixed charge coverage ratio. Material adverse changes in our results of operations could impact our ability to satisfy these requirements. Interest is based upon LIBOR plus a margin that varies between 150 and 350 basis points (200 basis points at September 30, 2016) depending on the leverage ratio. The credit facility is secured by a mortgage on and security interest in all real and personal property owned by Dover Downs, Inc. In addition, the credit agreement includes a material adverse change clause and prohibits the payment of dividends. The credit facility provides for seasonal funding needs, capital improvements and other general corporate purposes. At September 30, 2016, there was $27,500,000 outstanding at a weighted average interest rate of 2.53% and $12,500,000 was available pursuant to the facility. Additionally, we were in compliance with all terms of the facility at September 30, 2016 and we expect to be in compliance with the financial covenants, and all other covenants, for all measurement periods through September 30, 2017, the expiration date of the facility. The credit facility is classified as a current liability as of September 30, 2016 in our consolidated balance sheets as the facility expires on September 30, 2017. We will seek to refinance or extend the maturity of this obligation prior to its expiration date; however, there is no assurance that we will be able to execute this refinancing or extension or, if we are able to refinance or extend this obligation, that the terms of such refinancing or extension would be as favorable as the terms of our existing credit facility. These factors raise substantial doubt about our ability to continue as a going concern. The accompanying financial statements have been prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 4 — Credit Facility

On September 1, 2016, we modified our credit agreement with our bank group. The credit facility was modified to: extend the maturity date to September 30, 2017; adjust the maximum borrowing limit from $40,000,000 to $35,000,000 as of March 31, 2017 and through the date of maturity; modify the maximum ratio of funded debt to earnings before interest, taxes, depreciation and amortization (the “leverage ratio”); and delete the minimum consolidated tangible net worth requirement and the minimum consolidated earnings before interest, taxes, depreciation and amortization requirement. The credit facility also contains a minimum fixed charge coverage ratio. Material adverse changes in our results of operations could impact our ability to satisfy these requirements. Interest is based upon LIBOR plus a margin that varies between 150 and 350 basis points (200 basis points at September 30, 2016) depending on the leverage ratio. The credit facility is secured by a mortgage on and security interest in all real and personal property owned by Dover Downs, Inc. In addition, the credit agreement includes a material adverse change clause and prohibits the payment of dividends. The credit facility provides for seasonal funding needs, capital improvements and other general corporate purposes. At September 30, 2016, there was $27,500,000 outstanding at a weighted average interest rate of 2.53% and $12,500,000 was available pursuant to the facility. Additionally, we were in compliance with all terms of the facility at September 30, 2016 and we expect to be in compliance with the financial covenants, and all other covenants, for all measurement periods through September 30, 2017, the expiration date of the facility.

The credit facility is classified as a current liability as of September 30, 2016 in our consolidated balance sheets as the facility expires on September 30, 2017. We will seek to refinance or extend the maturity of this obligation prior to its expiration date; however, there is no assurance that we will be able to execute this refinancing or extension or, if we are able to refinance or extend this obligation, that the terms of such refinancing or extension would be as favorable as the terms of our existing credit facility. These factors raise substantial doubt about our ability to continue as a going concern. The accompanying financial statements have been prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.