Early projections of diminished revenues at Plainridge Park Casino – the first such facility in Massachusetts – say little about long-term viability of the industry, according to the state's gaming chief.
"Five months of operation does not provide enough data to draw any significant conclusions about the status or future of gaming in Massachusetts," Gaming Commission Stephen
According to the Boston Globe, state budget analysts in November whittled its original projections of Plainridge annual gambling revenue from $262 million to $160 million, based on the casino's first few months in business.
The commonwealth receives 49% of the take under 2011 legislation that enabled casinos, meaning Massachusetts would receive $78 million instead of $128 million.
"The Gaming Commission is certainly aware of this trend, and while we will continue to closely monitor and evaluate the performance of our licensees," said Crosby.
Plainridge is in Plainville, in southeastern Massachusetts and about a 20-minute drive from the Twin River Casino in Lincoln, R.I. Voters in Rhode Island approved adding table games at Twin River. Plainridge has no table games.
According to the Globe, Rhode Island budget analysts, who had initially lowered expectations because of Plainridge competition, added $35 million in overall projected slot machine revenue at Twin River in their November report.
