Racino VLT Wagers Total $1.46B for Fiscal Year
YOUNGSTOWN, Ohio — Video lottery terminal wagers at Hollywood Gaming at Mahoning Valley Race Course declined for the third consecutive month in June, but that didn’t keep the Austintown racino from posting record revenue for the fiscal year.
From July 1, 2020, through June 30, VLT play at the racino totaled $1.46 billion, up from the $1.25 billion reported for fiscal year 2019. During the 2020 fiscal year, when the racino was completely closed for two months and partially closed for two more, total VLT play was $984.57 million, below $1 billion for the first time since the 2016 fiscal year.
Winnings collected by patrons at the local racino for the fiscal year neared $1.3 trillion. Compared with $874.10 million in the previous fiscal year and $1.11 billion in FY2019. Net win – credits played minus credits won and promotional play credits – totaled $141.08 million.
In June, wagers at the racino totaled $140.59 million, down from $146.51 million in May. It represented the third consecutive decline since March’s $153.23 million. In June 2020, when the racino was only open from June 19 to June 30, wagers VLT totaled just $43.91 million, the month since its opening in September 2014.
Winnings for June totaled $125.31 million, compared with $38.93 million a year earlier and $99.36 million in June 2019. May winnings totaled $130.68 million.
Penn National Gaming Inc., the Wyomissing, Pa., company that operates the racino, received $8.91 million in June and $93.35 million for the fiscal year as its commission.
The Ohio Lottery Commission, which oversees VLT operations in the state, got $4.51 million in June and $47.26 million for the year.
Copyright 2022 The Business Journal, Youngstown, Ohio.