Slot machine revenue at Gulfstream Park Racing and Casino was far below what had been expected and was not even close to the take of its two South Florida racino competitors on a per machine basis for the three-month period July through September, according to figures from Florida Division of Pari-Mutuel Wagering.

During this period, the average take per slot machine at Gulfstream was $74 a day in the July-September quarter. By comparison, Mardi Gras Racetrack & Gaming Center at the former Hollywood Greyhound Track took in $167 per machine and Isle Casino and Racing at Pompano Park took in $214 per machine.

Gambling analysts had projected that the four "racinos" authorized to offer Class 3 slots in Broward County (Dania Jai-Lai has yet to commence operation) would generate more than $500 a day per machine, a sum the casino operators now generally view as unrealistic.

Nevertheless, Gulfstream, which became the first racino in South Florida to offer slots when it opened with 516 slot machines in November 2006, has been by far the biggest disappointment of all.

Experts say, in fact, that the revenue Gulfstream is generating cannot even service the debt it took on to build the casino.

Magna Entertainment Corp., a Canadian company that owns Gulfstream along with a number of other major race tracks in the United States, blames the weak start for its racino on the fact that it did not aggressively market the slots until six months after the casino opened, and said Gulfstream did not contain the appropriate slots denominations or mix of machines.

Magna said it is taking steps to turn the business around, and to judge Gulfstream on its first six or eight months is "unfair." Company executives say Gulfstream is gradually solving its problems.

"We're going to make sure while it's smaller, it'll have the same selection and same feel as a Las Vegas or Atlantic City," said Steve Calabro, Magna's new vice president of gaming operations.