Thursday, November 16, 2006
Racino figures explain racing’s enthusiasm

The first results of the operation of slot machines at the Pocono Downs harness racing track in Pennsylvania are beating all predictions.

At the opening day, betting turnover on the 1100 machines was US$7 million, which means an hourly average turnover of US$440 per machine. Of the $7 million, almost 90% was paid out as winnings, while 1% was retained by the casino operator. The purpose of the racino model is that some of the proceeds of the casino operations pay for the prize money of the races.