Massachusetts Casino Revenue Hits $14.1 Million in March

Plainridge Park Casino, the sole casino operating in the state of Massachusetts, generated revenues of $14.1 million in March from its 1,250 slot machines. Under state law, however, Plainridge is not allowed to offer table games, such as blackjack and roulette. Nevertheless, the slots figure represents the third largest amount since the casino’s launch back in June 2015, trailing just the parlor’s first two months of opening.
The slots casino is taxed at a rate of 49% of gross gaming revenue, with March’s result channeling $6.95 million towards local aid (82%), and the Massachusetts’s Race Horse Development Fund (18%). Commenting on the bumper month, Elaine Driscoll from the Massachusetts Gaming Commission, stated:
“The commission is pleased to see last month’s increased benefit, but notes that revenue is not the only performance metric. In addition to closely evaluating revenue, the commission also prioritizes job creation and economic development to ensure that gaming delivers maximum benefits for the Commonwealth.”
Prior to its opening, Plainridge Park Casino was forecast to generate annual revenues of around $260 million, but that figure has since been revised downward after the venue collected $180 million in its first fiscal year, resulting in $88 million in taxes for the state. Revenues have since settled between the $11-$13 million range, with $138 million in taxes having been collected so far in total. March’s performance therefore strikes an optimistic note going forward, with Gaming Commission Chairman Stephen Crosby explaining:
“Everybody says that over time they learn the market, they learn how to advertise, they tweak their arrangement with their customers, they know what they’re doing better, they’ve learned the market and now it’s beginning to show.”
In the meantime, two more casinos are expected to open in the state over the next couple of years, namely the $950 million MGM Springfield resort casino in September 2018, and the $2 billion Wynn Boston Harbor resort and casino in June 2019, which all three of Massachusetts’ casinos subsequently expected to produce annual revenues of $300 million.