Racino Posts 3rd-Highest Month in September
YOUNGSTOWN, Ohio – Hollywood Gaming at Mahoning Valley Race Course, which marked its anniversary last month, reported that bets placed on video lottery terminals totaled $77.9 million in September.
September wagers were $76.3 million higher than in August, according to the monthly figures released Wednesday by the Ohio Lottery Commission, which regulates VLTs in the state.
Over the month, 75 additional terminals were brought online at the Austintown racino. In September, the average number of VLTs operating per day was 939, compared with 870 in August.
“We’re very pleased with our September results — September was our third-largest month in terms of total play and fourth-largest in terms of net win [revenue],” said Bob Tenenbaum, spokesman for Penn National Gaming Inc., which operates the racino. Net win – what remains after payout of prizes to players – was nearly $8 million for September.
Penn National attributed September’s performance to “ongoing growth” in the racino’s business and the installation of the new VLTs during the month.
The October report will provide the first look at over-the-year results for the racino “although it’s always difficult to compete with your first full month of operations, given the general excitement and ‘newness factor’ that always occur when a facility first opens,” Tenenbaum said.
The racino received a “good response” to promotions offered to mark the anniversary but Tenenbaum wouldn’t “characterize them as critical” to the month’s results.
Statewide, VLT play declined over the month, from $782.5 million in August to $740.5 million in September.
Since opening Sept. 17, 2014, bettors have wagered $933.8 million on VLTs at the Austintown racino. For the first full year of operations – October 2014 to last month – wagers came to $880.9 million.
Preparations are underway for the Oct. 30 resumption of live thoroughbred racing at the one-mile track, Tenenbaum said. “The barns will open for horsemen mid-month, and we expect activity to increase significantly once Thistledown in Cleveland closes its season on Oct. 24.”
Copyright 2024 The Business Journal, Youngstown, Ohio.
