In the past, the Hollywood Casino at Charles Town Races has been one of the only gambling and racing destinations for the people of Washington, D.C. and surrounding areas. Patrons would flock to the town by the busloads. However, with the opening of the new MGM National Harbour casino, in a nearby Maryland location, business at the Hollywood Casino seems to have gone down. The USD 1.4 million casino has been drawing business and profits away from Charles Town across the state border.
According to the West Virginia Lottery, in the first two weeks since the National Harbour casino has opened its doors to the public, revenues at the Hollywood Casinos has markedly gone down. Video Lottery revenues at the property were down by about USD 670,000 compared to the same time last year. This reflected a 19.5 per cent year over year loss. Table game revenues have also seen a drop. Compared to the same time in 2016, revenues were down by USD 214,000. This also reflected a sizable 22 per cent year over year decline in profits.
Eric Schippers , the Senior Vice President of Public Affairs at Hollywood Casino, said that officials at the casino have known for a while that their profits were likely to be affected by the construction of the luxury structure nearby. They have known about the imminent effect of the MGM National Harbour and have been prepared for it for a while.
He said, “We prepared well in advance by reinvesting in our business to remain competitive. Over the last few years we have built a new hotel, completely refreshed our slot machine offerings, added a new entertainment venue featuring top performers, and built new restaurants and added new amenities for our Asian guests.”
According to Schippers, the management at Hollywood Casino at Charles Town does not have any plans for downsizing their staff at the moment. Despite their loss of business revenues, they plan to keep on every individual that is in their employment. He did, however, admit that while they are expecting an overall decline in profits of roughly 20 per cent through the year of 2017, the Charles Town property, they feel will still “remain competitive.”
Hollywood Casino at Charles Town Races
Hollywood Casino at Charles Town Races is a race track and casino that is situated just outside of the eastern city limits of Charles Town in West Virginia. The racetrack and casino is owned by Gaming and Leisure Properties and is operated by Penn National Gaming. The racino features a six furlong through- bred horse racing facility. It is one of the busiest tracks in the country. They generally run a 5- day a week schedule, with 4 day a week schedules over certain summer months and major holidays. The property also houses more than 3,000 slot machines and several table games.
The race course that opened its doors to the public on the 3rd of December 1933 was originally called the Jefferson County Races. It has been through a lot of changes and modernisation over the years. For a long time, the property just featured horse races and slot machine games. At that time, it was known as the Charles Town Races & Slots. However, on the 5h of December 2009, a referendum was held on table games, where voters approved the motion to allow table games at the venue. The first referendum over the same matter, which was held some years back, had resulted in the public defeating the motion and voting against table games. With the installation of these additional gaming services the property was renamed Hollywood Casino at Charles Town Races on the 2nd of July 2010. Hollywood Casino at Charles Town Races also features a 150 room hotel, named The Inn at Charles Town. Additionally, they house several dining facilities. This includes a food court, a track side restaurant and the Skyline Terrace. However, not all the eateries at the property are located in the hotel building.