Home > North American Casino News > Maine slots payout highest on East Coast last month
Maine slots payout highest on East Coast last month
December 16, 2006
HARRISBURG, Pa. (AP) -- Pennsylvania's first slot-machine gambling parlor paid out a lower percentage in its first two weeks than any other East Coast casino in November, while the casino in Maine had the highest payouts, according to an industry analyst.
Payouts to players at Mohegan Sun at Pocono Downs averaged 89.73 percent, below the 91.07 percent average, according to Joseph Weinert, the vice president of Spectrum Gaming Group, an Atlantic City, N.J.-based consulting firm.
Weinert said he expects payouts in Pennsylvania to be low because of the state's relatively high tax rate on gambling revenue. At Pocono Downs, the tax rate is 55 percent.
The East Coast's highest payout was 93.3 percent at Hollywood Slots in Bangor, Maine, which opened just over a year ago.
Slot machines at Pocono Downs took in $85 million in wagers between Nov. 14, when the casino opened, and the end of the month. Of that, players won $76.3 million. The state took $4.8 million and the casino owner, Mohegan Tribal Gaming Authority, received the rest, about $3.9 million.
While Weinert said low payouts could hurt the competitiveness of Pennsylvania's slots parlors, a Pocono Downs spokesman, Jim Wise, said it was too early to analyze payouts based on two weeks of operation.
Discuss this News with other readers.
||Digg this story automatically with your Firefox browser. Not using Firefox yet? No problem, just Click Here to Digg this story the old fashioned way (by visiting the site to click the Digg It button).
© 2005-2007 - Global Gaming News