PORTLAND, Maine — Maine’s newest casino had revenues of nearly $10 million in its first two months of operation, while revenues at the state’s other casino in Bangor have fallen since the new casino opened.
Oxford Casino opened June 5 in the western Maine town of Oxford and had net revenues — the amount lost by gamblers — of $9.8 million in June and July combined. It paid nearly $4.1 million in taxes, according to the Maine Gambling Control Board.
Those numbers are strong, and revenues from the casino’s table games are nearly double what was projected, said Clyde Barrow of the Northeast Gaming Research Project at the University of Massachusetts-Dartmouth. In July, the casino was winning an average of $2,471 per table game per day.
“We had originally projected them to start out at about $1,300 per table per day and gradually ratchet up to $1,700,” Barrow said. “Those numbers are comparable to Atlantic City.”
Oxford Casino is planning to add 10 more table games and hundreds more slot machines in October, said spokesman Scott Smith. It now has 529 slots and 12 table games including blackjack, craps and roulette.
“We’re off to a very a good start,” Smith said.
Net revenues at Bangor’s Hollywood Casino, about 120 miles from Oxford, totaled $5.5 million in July, down from $5.9 million the same month in 2011. Hollywood Casino has 923 slot machines and 16 table games.
Some of the fall-off can be attributed to the opening of Oxford Casino, said General Manager John Osborne. This July also had fewer weekend days, the busiest days of the week, than 2011.
There’s a lot of curiosity about Oxford Casino, but it’s too soon to determine its long-term effect on the Bangor facility, he said.
“We believe long-term customers will still frequent their casino of choice, and we hope that will be Hollywood Casino in Bangor,” he said.
It would be surprising if Hollywood Casino didn’t feel any effect of the Oxford opening, Barrow said.
“That was always projected to be the case because they were going to siphon off some of the convenience gamblers in the immediate area around Oxford,” Barrow said. “For a small facility, Hollywood draws people from much further distances that would normally be the case, but that’s because people don’t have any alternatives. Once alternatives are presented to them, convenience gamblers will go to the closest facility.”
Members on the Gambling Control Board are interested in seeing the effect the Oxford facility will have on Hollywood Casino, said Patrick Fleming, executive director of the board.
“We are looking at those numbers and will be making some comparisons, but we don’t have a whole lot of data at this point,” Fleming said.
It is only logical to expect the Oxford Casino would eat into the revenue for the Bangor Casino; it doesn’t require a degree in economics – just common sense – and it isn’t too early to say so. Frequent players closer to Oxford go there to save travel expense and time – duh.
And on a side note, the Bangor city councillors may have made a mistake when they planned on unabated revenue from Hollywood Casino to finance the new civic center construction. Bangor’s taxpayers may end up having to ante up to pay off the bonds.
I’ll bet there have been a frown or two around city hall when they have seen the smaller figures on the ledgers – absolutely. We’ll see what happens down the road.
Twocents: Oxford will never cut into Hollywood casino business. They (Hollywood) pool mostly from a 60 mile radius, and those people are not going to travel at more cost to play. That would be idiotic. You are speaking simply of the trial period of a new casino. The honeymoon phase is always above what is expected. When it levels out, the profit margin will be established based on the ups and downs of the economy and what people spend on entertainment. We are talking two months here, and Hollywood Casino has also had that honeymoon stage but a long time ago. People are confusing the story thinking that Oxford Casino is taking business away. There was no other casino in the Hollywood Casino-Bangor history until recently and still there are no other casinos that threaten this region. Oxford has more to worry about being closer to other casinos. There is no sudden drop in revenue at HC. Where did you think that? Beemare- There was no mistake made, where do you get this notion? The revenue stream from the casino has already secured a new arena at no cost to the Bangor community, and you have proof this will change? The arena has actually come out a lot less in projected cost and the city stands to save millions because of it. Also, Hollywood Casino is a very successful brand of casinos, they know what they are doing. I am happy for Oxford for having a great debut, but it really has nothing to do with us up here. You have every right not to believe me however.
Terence, let me ask you. Where would you rather be? Gambling out in the middle of the sticks, or staying at Hollywood Casino for a few days and going to see Journey on the waterfront. A no-brainer! Once the arena opens Hollywood’s revenue will exceed past performances. Along with Waterfront Concerts continuing presence, the future looks quite bright for Hollywood Casino and downtown indeed.
Well said Steve63_10. You get it well. They think we are actually in trouble because the Oxford Casino opened up. lol. Thanks again Steve63_10, it is nice to see someone who pays attention.
you are wrong, go onto the gambling boards web site…..Hollywood casino is off over 25% since Oxford opened. Of course Oxford is going to hurt Bangor…..Maine cannot handle more then 2 casinos….thier markets overlap
mommiam- if that happens in two years, I promise I will come back and tell everyone you are a intelligent thinker. Until then….
I have visited the Oxford Casino 3 times. They give comps but you do pay for drinks even bottled water, which is different from the casinos in Atlantic City. It is an attractive place inside and out. When the addition is completed it should be really something. The casino help are very nice every where you go, and try to accommodate you. They even have a van to bus you to and from the parking lot, which is quite large. Bangor Casino doesn’t compare with the Oxford Casino. I take a set amount of money and do not exceed it and have fun. I have won more than I put in the machine.
you cannot give free booze away in Maine!!! It is the law….you can now get free water and soft drinks while gambling in Oxford.
You are correct in saying that the Bangor casino does not compare to Oxford. They have over 900 slot machines, a hotel, 16 table games, a banquet room, oh and 150+ room hotel. Oxford has only a 3rd of what Bangor offers. Honeymoons only last for so long. There bottom line will average out in about 2 months.
It is just a non-productive false economy of bread and circuses.
It reminds me of packaging bad mortgages, then making a derivative ( a side bet) taking the position that will they fail, and getting away with calling that just a business investment.
You can fool some of the people ….
Or giving out freebies like TANF and SNAP cards in exchange for democrat votes.
Of course that is OPM they’re giving away.
“And in other news, New England residents have suddenly discovered that they are $10 M in the hole. Mary, visiting from Lewiston with her sometimes-boyfriend Charles, and their eight illegitimate children, said that even though they lost all of their savings, they enjoyed the flashing lights, and next month’s EBT card will help them through the drought.””
I will never EVER get, why some people think losing their hard earned money is entertainment…
Do people tell you what to do with you money an that’s there entertainment
Well its about time that Bangor Hollywood Slots and Casnio started paying out more since they have added tables less and less people are winning at the slots. The slots make them big money and if they are losing some of there revenue TUFF. All they want to do is take our money and not pay anything out. I like to go play once in awhile but do not go near just because they are so tight with there payouts. So everybody protest and not go to Bangor for a month and see what happens. I bet they start paying out more.
I go to Mohegan sun to have fun if i lose some o well if i win some its ok plus when i do go i go to see the free shows at the Wolfs Den like ile be going to see the Village people
I agree with you. That what i do and have a lot more fun and sit around the Wolfs Den and listen too the bands play.
Great Idea. boycott. thanks mama Bear
Some people will go and spend $100 on dinner and a movie. Some will spend $100 on fishing gear. Some will go spend $100 playing poker. To each their own.
add to that what about all the money people waste on campers an they buy big trucks to hall them with plus the Motor Homes you see a lots of those now with tall grass growing around them
And some will go home with a full belly, some with memories of a good movie, some with fishing gear. But some will go home broke. To each his own.
And at the end of the day, why would you care what anyone else does with their money since it is theirs.
Some people are capable of empathy, and some are not. Thus, when two people learn that gambling bankrupts families and ruins lives, some people feel sorrow and others ask, “Why would you care?”
You get it joe. Thanks. I have spent much less on entertainment at the casino than I have elsewhere. And when it’s in your backyard, you make a lot more in winnings than you think. I have spent two hours there before and ate at the buffet for free and gambled and saw a great music act and ended up only spending $20. So? But yet people drive and spend time at foxwoods and enjoy the free drinks and think they are getting a better deal, but in the end they spent so much more for the entertainment. Don’t get it. When something is local, spend your money there because it is worth a lot more. Perfect Cents!
I agree. This leaves me to wonder why so many people can feel so comfortable knowingly GIVING that kind of cash away while also constantly crying over taxes? Yes I know, no one LIKES taxes but I’d certainly rather my money go there then to some fat cat gambling tycoons from “away.” Maybe the State should stop “taxing” some people altogether and simply tell them to send in some amount of cash for a chance to go on a Jamaican vacation with Mr. LePage and his whole family for a week? What, not enough incentive? Ok, I’ll work on a better plan.
Right. People should pay their taxes with a smile! I mean, you gotta eat, right?
You could make that argument for pretty much any non essential expenditure. The problem with taxes is that everyone has different opinions on where we should spend tax dollars. Some disagree with the amount of military spending we have, some disagree with the amount of welfare spending we have. Yet we all have to pay into a system that is horribly broken, so I guess as long as we are equally miserable? Besides, a lot of the money spent at casinos is taxed, and another huge chunk goes right back into the community through donations and such. And then you have state run lotteries in which case most of that money goes to the state, so, in a way gambling is a tax.
All true. I’m just looking (perhaps humorously depending on one’s perspective) for a way to cut out the middle men (Casino millionaires from away) and be able to put more money in the State’s coffers for services like hospitals, schools, roads, needy, etc, etc. If people want to throw money away and still receive the benefits of living in a modern society, why not throw it toward those who (at least on paper) we’ve placed in charge of providing such services?
I’ll never EVER get why some people spend their hard earned money on booze and cigarettes….
It’s all the noise and whirling slots that make losing money a thrill. If they lost their wallets with the same amount of money they lost at the casino, betcha they’d be looking long and hard for it.
I feel the same way about much of what is on TV these days, or the radio for that matter. But, as they say, to each his or her own, right?
That’s $10 million on the fast train out of one of the poorest counties in Maine. BDN – it would be interesting to see a follow up story that details the demographics of Oxford’s customers (which the casino surely won’t release). I’m very interested to know how many people drove up from Massachusetts (which is saturated with Casinos) to blow their money in Oxford, as the hype promised would happen. The reality is that this money is just coming from the pockets of poor Mainer’s and being sucked out of our local economy. If you want to waste your money on gambling, at least by rip-off tickets – the money stays in Maine.
As usual, you are wrong.
There are no casinos in Mass.
The State is in business with the casinos and Maines take on the slots is 39% of the net.Why do you think it will never be fair for the customers
Well said Push. Yes Maine does gain a lot from the revenues.
The real story here is the failure of the city council to be up front with the voters of Bangor when the referendum on the arena was held. They knew that the city’s monopoly on gaming was to be short lived and they also new that with the addition of new casinos there would be less Hollywood Casino revenue going to the city to cover the arena’s debt service. Now that the voters have followed the big heads at city hall like lemmings to their death, we will soon be receiving arena mortgage bills greater than our current tax revenue can pay. I wonder where the additional monies will be found?
Where’s your hard documented evidence to back all that up?
Time will tell, time will tell; I hope I am wrong but with the arena’s annual debt service and expenses projected to be nearly 2 million dollars and revenue from the casino barely reaching that amount, it does not take a CPA to see deficits on the horizon.
In other words you don’t have hard documented evidence to back up your post.
The city council admitted not having the revenue to pay for it, after the fact. the taxpayer will make up the difference… Thank you councilor.. It is like a boat with a hole in it, always having to bail it out.
Please provide a link to an article, council minutes, etc…that will document your statement that “The city council admitted not having the revenue to pay for it, after the fact” please and thank you.
the math speaks for itself…all of the information i used is publicly available through either news accounts, gambling control board, or the website for the city. The revenue is there plain and simple.
it’s actually 2.99 million a year and in total Bangor gets 4% of the casinos net revenue per year. In 2010 net revenue was 61.6 million dollars. Do a little math and that’s just shy of 2.5 million a year. The rest of the money comes from the downtown TIF (tax increment financing) which according to city docs is about 1.5 million a year. And then there’s the naming rights money, Sooo….seems pretty affordable to me.
No you don’t Bustah. You hope you are right. Because you hate to see anyone enjoy themselves and would rather spread fear and unsubstanciated non-sense as fact. Once the arena opens people like you will have no choice but to admit you were wrong. I’ll be staying at Hollywood in Sept to see Loverboy and Journey at Waterfront Concerts. I’ll have a great room, be able to walk to and from the show, eat at the great buffet, as well as gamble a little bit. With the exception of the gambling, I can’t do any of that at Oxford. I’m okay with losing some $ knowing it helps to fund the arena and also state programs. At least it’s MY choice, which is nice.
Wow’ $10 mil in two months…….I guess our Native Americans and friends Downeast really did get screwed…..Crazy….
They screwed themselves when they decided take that 80-90 million back during the Carter years. In that process they gave up their rights to do as they please on their lands by allowing us non-natives to decide by vote time and time again not to let them set up big time casinos. As we can see here, that quick money they took is chump change compared to what they’d have made by keeping us out of their business. Sad really. I don’t gamble but if I did I’d rather give it to a “people” who we all probably really do owe more than we can ever repay.
They took a chance and their attorneys could not see the forest for the trees. By entering into that agreement, they took from Maine’s taxpayers and lost the gamblers. They freely entered into an agreement that would not allow them to do whatever they pleased when they accepted freely the terms of the land claims settlement. But, Maine really needs to come up with a plan for where they will allow casinos to be built and what kind of casinos in terms of structure and planning must be built.
Though I do not believe in Casino’s WashingtonCounty should have just as much reason to have a casino as the rest of liberal Maine.
Well
Are they taking EBT cards?????
No, but you can go sell it for 50 cents on the dollar right there on Main Street and then use the procedds to drop in the slots. The State of Maine would prefer that you invested it in scratch off tickets instead so that they could reclaim some of their (my) money back.
Ha Ha Ha…getting old.
I guess Mainer’s do have money to spend. Guess we don’t need jobs.
Gambling: the triumph of Hope over Experience.
Well…I suppose if ya can’t win at the casino, heck..try claiming ya got maggots in your chicken and take some big company to court.
no more casinos 2 is plenty….and three or more will be a crowd and more draw away from bangor and the civic center……
The new casino raked in $10 million in 2 months? I guess it’s true when they say, “The house always wins.” I want to put up a casino out back. In 2 months, I’ll sell and retire.
The libbers should love this news. They can scream for more
welfare and bigger EBT card amounts.
The difference is the craps tables, plain and simple. Anyone who knows anything about casino gambling knows what craps tables do for a casino. Bangor has ZERO craps tables. Simple.
From what I understand, Hollywood Casino has some coming soon. Keep an eye out for around December.
First time I went to Oxford I left with $1400.00 more then I went in with, the second time $800.00 more then I entered with.. Living in Bangor I go to the Hollywood slots a couple times a week. Last night I drop $120.00 and tonight I droped another $120.00 The largest prize I won was $8.00. bonuses free spins that pay $1.60 or $2.40 are to laugh at… Oxford pays better and even though it’s smaller they seem to appreciate their customers more by having larger payout prize sizes.. Spending a grand a month at hollywood slots you would think they would want to make me leave with a smile now and then…. I like the games and I have found Oxford is worth the trip..
What you fail to understand is that if you visit them 4 months from now, the results probably will be the same as going to the slots here in Bangor. This is a draw for them. They are allowed to have bigger payouts or frequency of winning during opening. As time goes by, the machines get “tighter”. Casino’s do this all the time to draw folks in when ever they open. And yes, I have worked at casino’s and know that this is how they operate.
Bangor city council gambled, that Hollywood slots would pay for the new Arena, It was a 30 year bet.. Even with the great interest rate on the bond, the taxpayer is still going to have to pay tens of millons on the note before it’s over… They mislead people when they said it was going to be paid for with Bangors taxpayers revenue stream from the slots… Politicans love to fund their pet projects on the taxpayers backs.
I haven’t read one single thing that says the revenue will not make the payments. Can you provide any link to anything that shows different?
It was said on the news by Galant claiming that we are almost there to the even point when they received a low bond rate… By the way if it wasn’t for the vote on the arena which moved the time line on getting the bonds it would have been 2 points higher.
Well Hollywood Casino was never intended to pay for the construction of the new arena 100%. The other source for funds was and still is the downtown TIF.
Now to your point. Here is a WABI story which may be the one you are referring to “Bangor City Council Announces Over 24 Million Dollar Savings for City” ( http://www.wabi.tv/news/32222/bangor-city-council-announces-over-24-million-dollar-savings-for-city ).
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“By the way if it wasn’t for the vote on the arena which moved the time
line on getting the bonds it would have been 2 points higher.”
That is a bit deceptive and I am sure not intentionally. Cianbro maintained the quoted price during the whole delay due to the referendum. The City of Bangor dodged a huge bullet when Cianbro agreed to hold the line on cost. Most other companies would have said “sorry but our prices keep going up so we have to pass the cost due to the delay on to you Bangor”.
Yes, the City is saving approximately $800,000.00/year over the life of the bond but only because Cianbro held the line on the projects cost.
Always a good thing, but Oxford needs to understand the first two months are always above what is expected. Bangor itself offers so much more as far as a destination. Good try however.
I have been to HWS….twice within last 4 years? Both with my 82 y.o. mother We spent $10.00 and our return was $4.50.We had a blast. We also knew when to quit. I wonder if there is a slot machine in heaven…miss ya mom.
Yes they are using TIF ‘monies’ but that is nothing more than borrowing against the expected tax increases that result from increases in property values as a result of the improvements generated by the development. TIF are traditionally used to cover infrastructure changes necessary to attract new private development or encourage private development. It is unusual to use a TIF to fund a public building since the building itself will never generate tax revenue. In affect, the big heads have gambled that at some future time new development in the TIF zone will provide additional revenue, if it does not…..well, Bangor was snookered.