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April 22, 2011

Revenues fall at Hollywood Slots

By The Mainebiz News Staff

Bangor's Hollywood Slots saw its revenue slide nearly 6% in the first quarter of 2011 compared with the same period one year ago.

Hollywood Slots Hotel and Raceway, which is owned by Penn National Gaming Inc., had net revenue of $15.3 million in the first quarter, a drop from $16.2 million in the first quarter of 2010, according to the Bangor Daily News. Its net loss, however, improved from more than $400,000 in the first quarter of 2010 to $122,000 in the same period this year.

As a whole, Penn National reported profits of $51 million, up from $36 million during the same quarter last year. The company owns, manages or has interests in 23 facilities and employs about 15,600.

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