Hollywood Gaming continues strong numbers after adding machines

October 8, 2015 at 12:00a.m.

By ROBERT CONNELLY

AUSTINTOWN

Revenue stayed steady at Hollywood Gaming at Mahoning Valley Race Course after its first full month of added machines to the facility’s gaming floor.

The racino added machines by removing part of a temporary wall built for expansion before September began. The gaming floor was expected to reach 941 machines, and the racino averaged 939 video lottery machines in September, which is up from 870 in August.

Hollywood Gaming opened with 850 VLTs and consistently had 866 machines for several months, according to monthly financial reports.

For the month of September, Hollywood Gaming had $77,940,015 in credits played, $69,405,188 credits won and a net win, or revenue after payouts to patrons, of $7,965,031. That revenue was distributed with $5,270,262 staying with Hollywood Gaming while the Ohio Lottery Commission received $2,668,285 and then $26,484 to problem-gambling services.

All of those financials were higher than in August, when the facility reported having 870 machines on its gaming floor.

Also in September, there was $569,796 in promotional play credits and a 89.78 percent payout with a win per VLT per day of $283.

The expansion “seems to be going well,” said Bob Tenenbaum, spokesman for Hollywood Gaming’s parent company Penn National Gaming Inc. The monthly numbers “indicate to us that there was definitely a demand for those machines,” he said.

Tenenbaum noted that next month’s numbers, which will have October’s financials, will be the first full month of operations for Hollywood Gaming to compare year-to-year.

Though it was another positive month at Hollywood Gaming, that wasn’t the case statewide as revenue and credits played fell from August’s numbers.

In September there were $740.5 million credits played at the state’s seven racinos, down about $42 million from August, with $660.8 million credits won, down about $37 million, with a net win of $67.8 million, down $4 million.

Similarly, the state’s four casinos took in about $2 million less in adjusted gross casino revenue collectively, going from $66.3 million in August to $64.3 million in September.

Alan Silver, Ohio University assistant professor of restaurant, hotel and tourism and a casino expert, said overall Ohio gaming in September had $132 million in revenue between casinos and racinos.

“That’s about a $1.6 billion industry” if projected over 12 months, he said. The Ohio “market still shows growth.”