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Numbers down, but still good for Hollywood Gaming
November featured a net win of $6,974,740
By ROBERT CONNELLY
AUSTINTOWN
Hollywood Gaming at Mahoning Valley Race Course again posted solid numbers after its second full month of operations.
The facility had 66,888,197 credits played among an average number of 866 video-lottery terminals during November.
Hollywood Gaming opened Sept. 17 with 850 VLTs and has added some within the existing space of the racino over time.
November featured a net win of $6,974,740 and 89.57 percent payout. Hollywood Gaming took in $4,615,011 for its net winnings while the Ohio Lottery Commission, which released the monthly numbers Monday, took in $2,336,538. Problem-gambling services took in $23,191.
The racino had $268 wagered per VLT per day, down from $325 in October. Penn National Gaming Inc., the parent company of Hollywood Gaming, spokesman Bob Tenenbaum has said between $200 and $300 is considered a good number. Penn National officials have said in the past that consistent totals of $300 or more per VLT per day could lead to expansion.
While those numbers are down from the previous two reports, the numbers are closer to what might be normal as the newness factor starts to wear off.
Alan Silver, Ohio University assistant professor of restaurant, hotel and tourism and a casino expert, said Hollywood Gaming needs to drive home customer loyalty to retain gamers.
He noted the promotional play credits, which climbed to $388,327 in November, are still behind the other racinos in the state. Hollywood Gaming at Dayton Raceway — which opened just weeks ahead of Mahoning Valley — featured $1.8 million in promotional play credits in September followed by $1.17 million in October and $800,069 in November.
“They’re very anemic on their promotional giveaways,” Silver said of the Austintown facility.
Penn National and Hollywood Gaming officials do not comment on monthly numbers.
Statewide, numbers were down for both racinos and casinos. The Casino Control Commission and the lottery commission release monthly figures on the same day.
The VLT win per day per machine for the state was $194, down from $206 in both September and October. The state had 670,907,670 credits played — down more than 60 million from October — and the facilities took in a net win of $60.2 million, down $6 million from October.
The state’s four casinos — in Toledo, Cincinnati, Columbus and Cleveland — had an adjusted gross revenue of $62.8 million, which is nearly $1 million less than a month ago. Numbers for the state’s four casinos have been between $62 million and $63 million since those numbers fell from August. That month had $70.8 million in adjusted gross revenue.
“The entire industry took a hit and we are coming up on the holiday season and people are starting to spend money and they’re looking forward to the holiday season,” said Silver. “Holiday seasons are always slow, starting mid-November and going into through Christmas.”
Overall, Silver said it was the month of the “$1 million club” due to many facilities’ revenues falling by that much from the previous month.
Only one of the state’s seven racinos had better numbers in November than October. That was Belterra Park, Gaming and Entertainment Center in Cincinnati. That track has been struggling financially, with its VLT win per day hovering between $95 to $105 from July to October. It jumped from $103 win per day per VLT to $113 in November, with the net win taken in by Belterra jumping to $2.97 million from $2.79 million.
Similarly, the only casino to post better numbers in November than October was Horseshoe Cincinnati. That facility had an adjusted gross revenue of $15.82 million, up from $13.95 million from October, and included an increase of $12 million for money into slot machines and $1.4 million more in the adjusted gross revenue for table games.