Plainridge Park Experiencing Extended Success

Posted by: on May 16, 2017 in News | no responses

Unless you have been living under a rock, you know full well that we have been focusing heavily on the casino activity across the Eastern seaboard, and especially in New England. With states like New Hampshire, Massachusetts, and Connecticut all working on expanding the scope of brick and mortar casino gambling, there is seldom a day where headlines are not being made.

This time, the headline is a positive one from Massachusetts’s only approved casino. Able to exist as part of an expanded gaming law, Plainridge Park Casino in Plainville, Mass. Is getting off to a hot start in 2017 and recently recorded a record-breaking month.

Best Month in 18

Plainridge Park first opened its doors in the Summer of 2015, but it has been posting solid earnings in more recent months. In fact, March saw revenues that amounted to the casino’s best single-month performance in more than 18 months. The good news continued to stream in as it was reported that this past April was an even better month for the Massachusetts gaming facility.

From the slots parlor at the casino, more than $14 million revenues were recorded in April. The only other time that Plainridge saw better gaming revenue figures was back in 2015 when the casino had just opened its doors.

A Short History of Success

As far as lifetime numbers are concerned, Plainridge has played host to more than $3.5 billion in wagers. Of that absolutely massive figure, the state has benefitted to the tune of nearly $150 million, according to WWLP.

According to the gaming law expansion that was put into effect back in 2011, Plainridge is mandated to pay 49% of gross gaming revenue back to the state as a tax. Of that 49% tax, more than 80% of those funds are injected right back into the local community, helping aid programs for underprivileged students, the elderly, and so much more.

The rest of the money, surprisingly enough, is put into the Race Horse Development Fund, which is aimed at reviving Massachusetts’ once great horseracing industry.

More Casinos to Come

As was mentioned previously, the state’s gaming laws were changed more than 5 years ago, and as part of those changes a few new casinos are on the verge of opening their doors. Perhaps most notable of the ongoing casino projects is the one happening in Springfield with the construction of MGM Springfield. Expected to open in September of 2018, MGM Springfield is set to challenge the casino industry of Connecticut, which is experiencing growth similar to Massachusetts, albeit a little further along. The hope is that the massive, innovative MGM Grand will pull some visitors from Connecticut over the border, thus bringing in even more revenues to the casino and more tax dollars for the state.

The supposed crown jewel of Massachusetts’ casino industry is what will be known as Wynn Boston Harbor. Though the casino just recently got construction underway and is not expected to open its doors until the middle of 2019, there is already plenty of hype surrounding it. All in all, the casino industry in Massachusetts is on the rise and does not look to be going anywhere anytime soon. As these casinos open their doors and become more well-established, it will be interesting to witness the competition that is bound to take place between New England states.