Birmingham Racecourse has been battling with revenue crunch and declining operational profits.
“Basically break even at best. I emphasize this at best. The track has been hanging on for the last few years,” Kip Keefer, Executive Director of the Birmingham Racing Commission said.
Surprisingly, the racecourse generates more revenue through non-betting and other non-gambling activities.
As such, in its attempt to bring back the revenue on track the Birmingham Race Course unveiled 301 new electronic gambling machines at the venue. The machines will allow gamblers to wager on horse races of the past.
The management at the facility are hopeful that the gambling machines could do the trick.
According to Tim Yelton, VP AmTote International, the company that makes the machines patrons can place bets, research information and watch live races for dogs or horses.
“We are trying to do everything we can to attract not only the older customer that has been coming to the races, but also the younger newer technologically advanced customer,” Lewis Benefield, President of the Race Course said.
UK Retail betting market has been shrinking and has become more than challenging for several gambling operators in the country.
Earlier this week, GVC Holdings posted an 18 percent decline in revenues from its UK retail operations for the third quarter to September 30, 2019.
The gambling operator also announced a 2 percent decline in its year-on-year constant currency net gaming revenue (NGR) for Q3 2019. The overall NGR, fell 1 percent when the constant currency factor was not considered. The company’s like for like NGR dropped by 36 percent.