Hollywood Slots Celebrates Second Anniversary

On November 4th, 2007, the one and only slot machine establishment in Maine celebrated its second anniversary, having received more than $1 billion in bets and $74 million in net profit. Penn National opened back on November 4th, 2005 in the former Miller’s Restaurant located on Maine Street.

According to the Maine Gambling Control Board that since its opening, the establishment has had about 1.6 million players, which includes repeat customers, who bet nearly $1.1 billion on October in the establishment’s 475 casino slots.

The cash that the players bet is the total sum placed into the slot machines. State regulations states that at least 89% of the total must be given back in total winnings. Hollywood Slots now gives out 93%. Hollywood Slots has produced about $36 million in tax profits for the state and $3 million in profits for Bangor.

According to the slots rules, Hollywood Slots is required by law to pay the state 1% of their gross handle and 39% of their net profit. Construction continues on the new facility of Hollywood Slots. When it opens next summer, it will feature 1,000 slot machines.

It will also feature OTB and Simulcast establishments, a 1,500 car parking area, a hotel facility, restaurants and merchandise space. The residents of Maine will vote on a referendum if they will allow another harness racing track and slot machine facility in Washington County.