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.


 

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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