Gulfstream Park Slots
The per machine daily revenue at Gulfstream Park has fallen from $415 in November 2006 (when slots were introduced) to $70 in May. This is way off initial projections and quite possibly the worst in the history of racinos. GP’s Net Slot Revenue for May was $2,639,056 from 1,221 machines as compared to $6,156,263 from 626 machines for Prairie Meadows in Iowa.
Ken Stirling, Executive Director of the Florida HBPA (from The Blood Horse 6/9/2007)
I’m still seeing a disturbing trend of staking out all-time new lows nationally and perhaps internationally for slots play per machine. It’s absolutely stunning. I have my own theories, but they’re about as worthless as they could be. I bought into it that we’d do $500 per machine per day.
Even more worrisome for those of us who hope that horse racing remains the prime mover of a racino:
Stirling said MEC’s desire to make racing the focal point may be having unfortunate results. When there are 6,000-12,000 patrons on the property for live racing, he said, slots players stay away. The supposed lure of racinos is they generate traffic and introduce people to horse racing.
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|
GULFSTREAM PARK SLOTS | |||
|
|
Avg Revenue Per Machine |
Number of Machines |
Number of Operating Days |
Net Slot Revenue |
|
Nov-06 |
$415.11 |
516 |
16 |
$3,427,166 |
|
Dec-06 |
$333.21 |
516 |
31 |
$5,330,049 |
|
Jan-07 |
$272.52 |
516 |
31 |
$4,359,218 |
|
Feb-07 |
$285.44 |
516 |
28 |
$4,123,989 |
|
Mar-07 |
$188.09 |
789 |
31 |
$4,600,424 |
|
Apr-07 |
$99.99 |
1221 |
30 |
$3,662,699 |
|
May-07 |
$69.72 |
1221 |
31 |
$2,639,056 |
from Florida Department of Business and Professional Regulation

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