Oxford Casino revenue up; Maine town receives $180k more in 2018

In Maine, the small town of Oxford saw an uptick last year in the amount of revenue it received from the Oxford Casino Hotel versus its take from 2017.

According to the Press Herald…

In 2018, the town of about 4,100 in Oxford County received $180,156 more than it did the year prior.

Increased take:

It received nearly $191 million from its 28 table games and 968 slot machines operating in 2018, with the lion’s share of that, some $1.55 million from slots, and table games contributing the remaining $351,196.

The year before, Oxford received $1.72 million, with table games contributing $351,282, and $1.37 million derived from slot machines, according to the Maine Gambling Control Board.

Referendum-established formula:

The casino was approved by voters in a 2010 statewide referendum, which established the formula for which the town and county receive the revenue. Courtesy of the referendum, the state of Maine via its Gambling Control Board receives 16 percent of net table game income and 46 percent of net slot machines income. The town receives a two percent cut and can spend the money how it sees fit, and one percent goes to the county.

“used to offset expenses“

Oxford Town Manager, Butch Asselin said…

“The money goes into a general revenue account and is used to offset expenses such as the town’s monthly payment to RSU 17, fuel costs, payroll and health insurance, etc.

“Proceeds received from the casino are treated similarly to other revenues the town receives such as excise tax, plumbing permits, real estate taxes and boat registrations,” added Asselin.

Allocation of revenue:

According to the news agency, town officials have in the past used the money from the casino to pay for the town’s transfer station, fire and police services, Town Office expenses and to reduce property taxes.

Last year, the county’s one percent cut was $953,147, with $175,798 from table games and $777,349 from slot machines, while in 2017, it received a total of $862,869, with $175,641 from table games and $687,227 from slot machines.

The town typically uses a majority of the money to lower taxes, while some is used for vehicle replacement.

A predetermined percentage of slot machine and table game operations is returned by board members to various entities, including to the Department of Education for public schools, which receives 10 percent, the Passamaquoddy and Penobscot tribal governments, which receive four percent, Maine Community College scholarships receives three percent and one percent goes for agricultural fairs.

Churchill Downs property:

Owned and operated by Churchill Downs Inc., which it purchased for $160 million from Black Bear Development in March 2013, Oxford Casino Hotel opened its doors to the public for the first time on June 5, 2012. In April 2016, the property’s current owner invested $25 million the addition for a hotel, which along with dining venues, and a larger gaming floor, opened in November 2017.

Including the four-story 177-room hotel, the property at 777 Casino Way features 27,000 square feet of gaming space, three dining options, including a pub, approximately 1,000 slot and video poker machines, about 28 live table games and meeting and event facilities that can accommodate 68 to 650 guests.