172165-Happy-Independence-DayJim Hand of the Sun Chronicle reports “Plainridge Park Casino is expected to generate about $200 million a year in revenue, and it’s off to a booming start.”

 

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Jim Hand of the Sun Chronicle reports that the slot machine parlor handled $6.1 million in gross revenue.

 

392168-entering-plainridge-park-dc214Does this really surprise anyone?

Gamblers and non-gamblers are going to Plainridge for many reasons:

  1. Curiosity
  2. Closer proximity to home
  3. Non-smoking
  4. It’s the new kid on the block
  5. Other reasons, like – affiliation to Penn Gaming Rewards, fan of Doug Flutie, enjoying tables games alone……

But if you think it’s the amenities, the gambling or the entertainment, then just back off a minute.

Remember when the “new” ice cream flavor was cookie dough?  (am I dating myself?) That’s all you heard, “cookie dough this and cookie dough that.”  After many new flavors over time, cookie dough has remained a favorite.  Why – consistent quality, you know what you’re getting and the other new flavors, while interesting and fun to try, just weren’t the same as cookie dough for your palette.

thSo, Plainridge is the new flavor, the new kid, the newest thing for gamblers – really, are you surprised by their success?  Check with me in two years, when competition ramps up, the real casinos begin to appear in Massachusetts, Twin River and Oxford has hotels, and CT & Maine continue their preparation for competing with the big boys in Everett & Springfield.

I certainly don’t want to “poo-poo” it’s success.  The response has been certainly been amazing.  And Massachusetts has lots to be optimistic about:

  • $320 million over the next 12 months
  • Forty percent of the revenue goes to the state general fund.
  • 9 percent goes toward a fund supporting the horse racing industryth (1) – with Plainridge Park also being a harness horse track, currently the only place with live racing in Massachusetts.
  • Of the $6.1 million spent at Plainridge last week, $2.4 million will go to the state and $583,916 toward racing.
  • State Gaming Commission officials estimate over the year Plainridge will handle $200 million with $98 million going to the state in taxes.
  • 81 percent of Plainridge employees are Massachusetts residents.

So, enjoy it now.  Hopefully, it will be successful for many years to come – especially for those who work there. Besides, tough competition among all of New England’s Casinos is best for us – the casino patron.  It translates to better promotions, more free slot play, more exciting events to be a part of, and better gambling (hopefully).

Free market competition – it’s the American way.

Happy Independence Day.

Binbin

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