The first casino in Old Colony State has posted a slight increase in revenue but not really…
According to data released on Monday by the Massachusetts Gaming Commission (MGC), Penn National Gaming’s Plainridge Park Casino recorded $12.9m in gross gambling revenues in October, slightly up from $12.6 million gained in September.
However, since October has one more day than September, daily revenue per slot machine fell to $277 from $280 posted in September and $327 in August.
Lance George, the general manager of Plainridge Park Casino, said that it is normal for revenues to taper down after a gala opening but the revenue is expected to eventually stabilize.
Plainridge was off to a solid start, gaining $580 in daily revenue per machine in its first week of operation. However, it is expected to take a hit when MGM Resorts and Wynn Resorts’ major Massachusetts casino projects open in 2018.
Another Massachusetts casino license hopeful, Rush Street Gaming, is still waiting in line in Brockton while tribal group Mashpee Wampanoag is confident that the construction of its $500m resort casino in Taunton will begin in 2016.
Meanwhile in rival state…
Connecticut tribes Mohegan Sun and Mashantucket Pequots posted lower slot revenue at their casinos in October.
The amount of bets in Mohegan Sun amounted to $580m this month, slightly down from $582m over the same period last year. Revenue totaled $48m, down 2% year on year.
The Mashantucket Pequots-operated Fowoods Resort Casino saw a 1% increase in the amount of bets to $482.5m, but revenue was down 3% year-on-year to $38.6m.
The two tribes have joined forces to build a third casino in Connecticut, which is touted as a way to preserve thousands of jobs and to combat competition from out-of-state gambling. The group is expected to reveal the site of the casino in December.
