THE HOLLYWOOD SLOTS HOTEL AND RACEWAY IN BANGOR, MAINE IS HURTING FINANCIALLY DUE TO THE ECONOMY. IT HAS BEEN REPORTED THAT THE SLOT REVENUES FOR FIVE OF THE LAST SIX MONTHS ARE DOWN. WITH REVENUES FROM HOLLYWOOD SLOTS NOT AS GOOD AS HAD BEEN PROJECTED, IT IS OBVIOUS THAT THE PROJECTIONS MUST BE LOWERED.
IN JULY, 2008 THE CASINO MOVED FROM IT'S TEMPORARY LOCATION ON MAIN STREET WITH 475 SLOT MACHINES TO IT'S NEW FACILITY. THE NEW FACILITY HAS 1,000 SLOT MACHINES, A 154 ROOM HOTEL AND ABOUT 1,500 PARKING SPACES. THE NEW CASINO COMPLEX COST ONE HUNDRED AND THIRTY TWO MILLION DOLLARS ($132,000,000.000).
HOLLYWOOD SLOTS HAS ABOUT 500 FULL AND PART-TIME EMPLOYEES.THE CASINO IN AN EFFORT NOT TO LAYOFF WORKERS, ARE MOVING EMPLOYEES AROUND. THE CASINO HAS CUT IT'S HOURS OF OPERATION. UNDER THE OLD HOURS MOST DAYS THE CASINO CLOSED AT 4:00 A.M. THE NEW CLOSING HOURS ARE SUNDAY THROUGH THURSDAY TO 1:00 A.M., FRIDAY AND SATURDAY CLOSING WILL BE AT 2:00 A.M.
THE PROJECTIONS FOR THE REVENUES TO THE STATE WILL BE DOWN ABOUT $3.6 MILLION ($3,600,000.00) THIS YEAR AND REDUCED ABOUT AN ESTIMATED $4.5 MILLION ($4,500,000.00) NEXT YEAR, FROM WHAT WAS ORIGINALLY PLANNED FOR.
THE CASINO IS SAYING THAT PEOPLE (CUSTOMERS) ARE BEING MORE CAUTIOUS WITH THEIR DISPOSABLE INCOME. THE SAME THINGS HAPPENING IN OTHER PARTS OF THE COUNTRY ARE NOW HAPPENING IN MAINE.
AMY KENNEY, A SPOKESPERSON FOR THE HOLLYWOOD SLOTS AND RACEWAY SUPPOSEDLY SAID, "IT'S FAIR TO SAY, WITH THE ECONOMY BEING WHAT IT IS, WE'RE WATCHING OUR FINANCES. ALL BUSINESSES ARE FEELING IT AND LIKE MANY OTHERS, WE LOOK FORWARD TO AN UPSWING IN THE ECONOMY."
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