Slots, not dogs, make the money

August 21, 2001 8:08 AM
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Wembley Plc, the English company that operates dog tracks in Rhode Island and Colorado, as well as tracks and a web site back home, reported record revenue for the first half of the year. But it wasn’t because of the racing. Slot machines made the money.

The British concern said it had another big year at its Lincoln Park racetrack and casino, primarily because of its slots revenue. With 1,700 machines, the company said it has average weekly revenue of $3.7 million, an increase of 15.6% over last year’s take.

And, if it weren’t for Lincoln Park, the company would be reporting flat earnings since its greyhound tracks and Web site posted only modest profit increases.

The company said it would shed most of its other businesses and concentrate exclusively on gaming with Lincoln Park at its star performer.

Dan Bucci, general manager of Lincoln Park, said the track would not remain stagnant. It will seek another 1,000 machines once it settles a long-running zoning dispute with the local town. He hopes to have the additionalmachines by the end of this year.