BANGOR (AP) – The financial woes that are hitting the nation’s casinos are also being felt in New England.

A weak economy is spurring Hollywood Slots Hotel & Raceway, Maine’s only casino, to reorganize staff in an effort to improve its financial condition.

Hollywood Slots already has changed its operating hours to cut costs. It’s now moving people between departments in a process that could result in layoffs, said a spokeswoman.

Gross revenues were down five of the first six months of the year. In July, Hollywood Slots moved from its temporary home on Main Street with 475 slot machines to a new $132 million complex that includes a casino, a 1,500-space parking garage and a 154-room hotel.

Although gross revenues are up since the move, revenue per slot machine is down sharply.

In October, customers put about $1,850 each day into each of the facility’s 1,000 machines, according to revenue figures from Maine’s Gambling Control Board.

In October of 2007 – when Hollywood Slots had 475 machines – each machine averaged more than $3,500 in wagers per day.

Grant Pennoyer, director of the Legislature’s Office of Fiscal and Program Review, said last month it is clear the projections of how much tax revenue the state gets from Hollywood Slots need to be revised downward.

The panel has drafted a first estimate that revenues from the facility will be down $3.6 million this year and that revenues for the next two-year budget cycle beginning next summer should be reduced by about $4.5 million a year.

Hollywood Slots, which has about 500 full- and part-time employees, used to be open until 4 a.m. most nights, but now is open only until 1 a.m. Sunday through Thursday and 2 a.m. Fridays and Saturdays.

“It’s fair to say with the economy being what it is, we’re watching our finances,” Kenney said. “All businesses are feeling it and, like many others, we look forward to an upswing in the economy.”


Only subscribers are eligible to post comments. Please subscribe or to participate in the conversation. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.