State to earn extra millions from Bangor slots
Hollywood Slots in Bangor is expected to generate $3.4 million more for state programs this fiscal year than originally projected.
In a glimmer of good news amid state spending cuts and a nearly $400 million revenue shortfall, the Bangor slots operation is also expected to generate an additional $4 million for the next fiscal year beginning July 1, the Bangor Daily News reported. The Revenue Forecasting Committee upped the projections after realizing its original estimates were overly conservative.
The slot machines at the Main Street facility have averaged more than $58 million in gross revenues every month since January, the paper reported. That income is split up according to a complex formula written into state law, which last year funneled more than $17 million to state programs.
According to the new projections, an additional $1 million of the total sum will go to the state's general fund, followed by another $1.2 million next year.
Go to the article from the Bangor Daily News >>
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