At the time of its opening, it was believed that Plainridge Park Casino would turn into an important revenue stream and a major attraction for customers both from Massachusetts and neighboring states. And, indeed, the state’s first licensed gambling venue attracted quite a lot of attention at first.
However, the latest figures posted by the Massachusetts Gaming Commission showed that the 1,250 slot machines were not enough to capture the attention of visitors and to prevent them from going to Twin River Casino in neighboring Rhode Island. In November, Plainridge Park Casino generated revenue of $11.9 million, more than $6 million down from the figure reported for the slot parlor’s first full month of operation.
Prior to its opening on June 24, 2015, gambling experts forecast that the venue would generate up to $300 million during its first full year. Later on, they predicted that even in the worst case scenario it would take in about $210 million. However, revenue at Plainridge Park Casino continued to fall and last month, state regulators cut back the initially announced figure to $160 million. The announcement came after the slot parlor’s biggest competitor – Twin River Casino – increased its annual revenue estimates by $35 million.
As mentioned above, Plainridge Park Casino features 1,250 slot machines and no table games. Experts pointed out that those gaming options may not be enough to attract the attention of a larger customer base in such a highly competitive market. Boston College professor Richard McGowan explained that the slots parlor is clearly going after the elderly part of local population. However, the gambling expert pointed out that that group is quite limited.
Another reason for the diminishing popularity of Massachusetts’ first legal gambling venue is the fact that many customers have found it a bit too small and quiet. As it seems, patrons prefer louder and more spacious gambling facilities, offering more gaming and other options.
This is why the nearby Twin River Casino is currently drawing greater attention. At the time of its opening, the Lincoln-based venue was a small slot parlor at an old horse racing track. It has gradually evolved into a larger casino with 4,000 slot machines, a number of table games, and various other gaming and non-gaming options. About a month ago, Twin River Casino even added poker tables, which are considered the latest trend among younger adult gambling customers.
It is still unclear whether Plainridge Park Casino would manage to turn into the lucrative gambling venue it has been planned. The Massachusetts Gaming Commission stated that it would keep on watching closely the slots parlor’s operations and that it could not point to a reason why it generates lower than expected revenue. Commenting on this, Twin River Casino Management Chairman John E. Taylor Jr. said that Massachusetts’ first gambling venue is a nice place, but his casino has a lot more to offer.
