Hollywood Slots Hopes to Add Table Games
Hollywood Slots General Manager John Osborne believes that adding table games like poker and roulette would funnel more cash to depleted state coffers and create up to 180 new jobs. Osbourne is requesting that lawmakers authorize table games for the Bangor racetrack and casino. Osborne says even without another gambling facility in Maine or an expansion of state lottery games, Hollywood Slots is having trouble competing with casinos in southern New England because it doesn’t offer table games like poker and roulette. Much like race tracks that are using slots casinos to increase revenues, so are other gambling arena looking for additional ways to bring in cash. Pubs and bars want to bring in slots to increase cash flow because due to the recession, many are suffering greatly. The biggest issue is that consumers stopped spending during much of the recession and are still slow to start in on their old spending habits. It’s a difficult time for many business owners and they are all looking to make ends meet.
John Osbourne spoke to members of the Legislature’s Legal and Veterans Affairs committee. He said, “One of the difficulties we have in our environment is we really don’t have a lot of people with a high household income. So when you look at some of these other jurisdictions, you’re sitting with several million people within 60 to 90 minutes of that location with household incomes that are 50 to 60 percent higher than what we have in Bangor.” The economics is what is hampering spending. Analysts know that to remain successful something has to be done for the gambling industry.
Osborne estimates that table games would generate approximately $8 million in revenue and result in 170 to 180 new jobs. Permitting Hollywood Slots to add table games is among a menu of gambling options the panel is considering, including expanding the state lottery to include the mega-millions game and adding a keno game. In all, the committee is looking at options that could bring in up to $8 million to help balance the state budget. That’s the final straw– legislators are also looking for gambling to make their shortfalls in budgeting go away. It’s difficult for almost every state to find creative ways to balance their budgets and gambling is proving to be a viable option in the mix.
