Nearly $36 Million Played on Gulfstream Slots
Updated: Wednesday, December 13, 2006 6:57 PM
Posted: Wednesday, December 13, 2006 4:54 PM
Slot machines at Gulfstream Park Racing and Casino realized $35.5 million of action during an abbreviated opening schedule in November, according to unofficial statistics released by Florida's Division of Pari-Mutuel Wagering.
Gulfstream, which launched its first phase of 516 slots Nov. 15, reaped more than $3.4 million in revenues through Nov. 30, with roughly half of that going to Florida's state public education coffers per statutory order.
Revenues at the Hallandale Beach facility were highest on the first, third. and fourth days - collecting more than $300,000 daily - but failed to approach $200,000 in the final four days of the month.
Per separate agreements with Gulfstream's parent company, Magna Entertainment, the Florida Horsemen's Benevolent and Protective Association is scheduled to receive 7.5% of the revenue, and the Florida Thoroughbred Breeders' and Owners' Association three-quarters of a percent.
Once the balance of the 1,500 allotted slots are installed, the FHBPA's percentage drops to 6.75% on revenue up to $200 million, but jumps to 12.6% once that figure is cleared. The FTBOA is scheduled to receive 1.4% on revenues above $200 million.
Three other Broward County pari-mutuel facilities are expected to have slots installed by 2008. Mardi Gras Racetrack and Gaming Center, which was formerly the Hollywood Greyhound Track, was planning to open for slots during the week of Dec. 11, but its machines failed testing by state inspectors, the Miami Herald
Others county facilities approved for slots include Pompano Park Harness Track and Dania Jai Alai.
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