Falling Casino earnings affect harness-racing industry

Falling Casino earnings affect harness-racing industryAccording to the latest figures released, the falling revenues at slot machines in Casino have affected earnings at Maine's harness-racing industry.

Falling slot machine revenue at Bangor's Hollywood Casino and other factors including lesser number of spectators have resulted in a double-digit drop in purses during the year. Racing horse owners have said that the earnings have fallen but they have to incur fixed costs including that of food, supplements, veterinary care, trainer, driver, stable and transportation costs.

Casinos have been funding horsemen, breeders and tracks for years and a fall in slot machine income is now affecting depended industries. Casino funding available for purses have fallen 22.5 per cent till July compared to the same period of the previous year, according to Henry Jackson, executive director of the Maine Harness Racing Commission. The fall is in line with the fall in the revenue at the Hollywood Casino.

Experts have said that the opening of Oxford Casino siphoned away customers and revenue from Hollywood Casino. Other factors like different contribution formulas, fewer spectators placing bets at tracks, unregulated online gambling and a weak economy have also affected the industry in the country.