Dover Downs Gaming Reports Self Tender Results

DOVER, Delaware – (PRESS RELEASE) -- Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE), announced today the final results of its self tender. The tender offer expired at 5:00 P.M., New York City time, on December 10, 2004.

Based on the final count by the depositary for the tender offer, 4,665,823 shares of Common Stock and 1,600,000 shares of Class A Common Stock, have been tendered and not withdrawn or rejected. All of the 1,600,000 shares of Class A Common Stock have been accepted for purchase by the Company at $12.00 per share. As the tender for shares of Common Stock was oversubscribed, 1,040,421 shares of Common Stock have been accepted for purchase by the Company at $12.00 per share and a proration factor of 20.8039 percent for shares tendered will be applied. This means that 20.8039 percent of each stockholder's properly tendered shares of Common Stock have been accepted for purchase, except that all shares of Common Stock tendered from holders of less than 100 shares ("odd-lots") will be purchased without proration.

The Company commenced the tender offer on November 10, 2004, when it offered to purchase up to 1,040,421 shares of its outstanding Common Stock and 1,607,506 shares of its Class A Common Stock, in each case at a price of $12.00 per share. Payment for the shares validly tendered and accepted for purchase under the tender offer, and return of any shares not accepted, will occur promptly.

The dealer manager for the tender offer is Raymond James & Associates. Mellon Investor Services LLC is the information agent as well as the depositary. For questions and information, please call the information agent at 1-866-293-6625.