Casino in Maine Remains Bullish on Slot Machines
Whether you are talking about real money casinos that have popped up all-across the nation in recent years or online real money gambling, the outlook for the casino gambling industry remains relative to your source of information.Overall, real money gambling is still high on the list for players looking to add some action to their overall betting strategy. Slot machines remain at the top of the list as the preferred form of gambling. This is the case in brick and mortar casinos as well as with any number of the options that exist with real money casinos online.Gambling in Maine was the topic of conversation recently at PlaySlots4RealMoney.com in an article by staff writer Rich Caesar. She made note that according to a Maine Gambling Control Board annual report, the annual amount wagered on slot machines was $1.2 billion in the state’s two real money casinos last year.
The revenue figure for Oxford Casino in Oxford, Maine was $68.7 million. The Sun Journal figure for Hollywood Casino in Bangor topped out at $41.6 million in 2017. These numbers alone imply that gambling in Maine on slot machines is big business.Where the two gambling outlets differ is in their future outlook for slots in the state. Oxford recently announced that it will be adding 97 more machines in 2017. Hollywood is moving in the opposite directions by lowering its inventory of real money slot machines by 39.
Oxford Casino was opened in June of 2012 and it continues to chip away at Hollywood’s bottom-line profits heading in its sixth year in business. Oxford recently invested $25 million in a 107-room hotel according to casino spokeswoman Jane McClay Hoyt. She also added that Oxford has also added an additional 3000 square feet of floor space in the casino.In a direct quote from Hoyt in this report she stated, “Oxford Casino Hotel’s parent company, Churchill Downs Inc., is very happy with their investment in Maine and the Oxford community. Oxford Casino experienced exceptional growth since opening and making the additional capital investment into our slot products was an easy decision, given growing demand.”
Penny slots continue to grow in popularity according to Hoyt, which is why the casino added more machines with this particular denomination. Citing the Maine Gambling Control Boardfigures, a total of $796.6 million was wagered on slot machines at Oxford Casino last year to reflect an increase of $62 million from the previous year. The reported decline at Hollywood was $ 28 million to $408.4 million in 2017. The machine count at Oxford increased from 871 to 968 over the past 12 months while it declined to 729 from a high of 778 machines in the Bangor casino.The Sun Journal added that the town of Oxford has also benefitted from these gains to the tune of $1.7 million according to Town Manager Butch Asselin. This money is used to offset the town’s annual budget of $5 to $6 million. Asselin went onto add, “We regard them (Oxford Casino) as an asset to the town” when asked about the working relationship between the two parties.
