Plainridge Park Casino reported March as its third best month since the venue swung its doors open for patrons in the summer of 2015. Last month, the slots parlor generated overall gross gaming revenue of $14.2 million from its slot machines.
July 2015 was its best month with reported slots revenue of $18.2 million. Revenue at the property dropped during the very next month (August 2015), but amounted to $15.2 million, representing Plainridge’s second best month ever.
Located in the town of Plainville, the gambling facility was launched on June 24, 2015. Plainridge Park Casino became the first commercial venue to be established within Massachusetts’ borders after voters approved gambling expansion and lawmakers amended the state law to allow the proposed expansion.
The new regulations made it possible for up to four casino properties to be established in Massachusetts – three Las Vegas-style casino resorts in designated regions and a slots-only parlor. It was eventually decided that the integrated resorts model will be introduced to the state through two properties – the $950-million MGM Springfield, scheduled for 2018 opening, and the $2-billion-plus Wynn Boston Harbor, slated to open doors in 2019.
Since launched, Plainridge Park Casino has generated slots revenue of $281.7 million. Under Massachusetts’ gaming law, the property is taxed at 49% on gross gaming revenue. The tax money contributed is split between Local Aid initiatives and the state Race Horse Development Fund. Local Aid causes receive 82% of overall tax revenue, and the Race Horse Development Fund is annually contributed 18% of the tax bulk. The property has generated over $138 million in taxes since its first patrons entered its premises.
Speaking of the venue’s slots customers, they generated coin-in of $179.9 million in March. Last month was not Plainridge’s best in terms of coin-in. A total of $185.1 million was reported for July 2016. Overall coin-in for the past almost two years amounts to over $3.4 billion.
The legalization of commercial casinos in Massachusetts has come as part of a larger gambling expansion trend seen in New England over the past several years. Most of the states in the region have been looking to casino gambling as a means to boost economy and tourism activity. And the construction of casino resorts in Massachusetts will bring the resorts model not only to the state itself, but also to New England as a whole.
Saying that integrated resorts are the current big thing in land-based casino gambling would not be an exaggeration. Multi-purpose properties with accommodation, entertainment, and retail options, and multiple other attractions, as well as with conference space, they offer a little something for all potential visitors. The model has been adopted in Macau and a number of countries in the Asia-Pacific region and has so far proved to be particularly successful there.
However, it is yet to be seen whether the New England region and its gambling market will be able to bear the weight of two such resorts as well as of other planned casinos in different states, known to be part of that northeastern portion of the US.
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