The Numbers Are In For The State’s First Gaming Facility
The first casino facility to open under the state’s new gaming law generated $18.1 million in revenues in its first full month of operations.
The shiny new slot parlor at the Plainridge Park harness-racing track in Plainville with its 1,250 slot machines and electronic games, Doug Flutie restaurant, live music venue, and upscale chophouse is the state’s first adventure into the world of 24-hour casino gambling. According to the state’s new gambling law, the tax of 49 percent on the casino’s gross gaming revenues generated $8.9 million in cash for local aid and the state’s horse racing fund. Local aid received the bulk of that payout, collecting 82 percent of the the taxable revenue. Final numbers for July showed that players put $181.6 million into the one arm bandits and digital card games at Plaindrige Park.
According to the report posted by the Massachusetts Gaming Commission, the casino’s slot machines delivered what’s known as a payout percentage of 90.09 percent, meaning that a player typically wins back 90.09 percent of their money while playing. The commission monitors the payout percentage with software, making sure it does not go below the state mandated minimum of 80 percent.
Commission officials expect the new facility to generate approximately $200 million in gross gaming revenues in its first full year of operations, a sum which, according to state law, would translate to approximately $98 million in tax revenues for local aid and the horse racing industry.
The casino is a test run of sorts for the state’s new gaming law as larger resort style casinos push back their groundbreakings in Springfield and Everett. A third resort casino in Brockton has just begun the complex licensing process.
The new facility features a newly renovated and modernized betting parlor for horse racing that overlooks the track and shows simulcasted racing from around the United States. The casino, nestled in the woods not far from 495, features a multi-level garage, a gift shop, and a food court with fast food options.