Massachusetts’ first commercial casino, also known as Plainridge casino, reported that more than half of its gambling revenue is recaptured by players, who would play in an out-of-the-state casino supposing that Plainridge casino has never opened its doors. According to a survey, conducted by the University of Massachusetts Amherst in 2016, more than 58.3% of the casino’s gambling revenue is collected from Massachusetts’ residents, who used to gamble out of the state prior to the opening of Plainridge casino. Industry insiders concluded that gambling pays off richly to the state.
On Thursday, the results from the years-long study titled “Social and Economic Impacts of Gambling in Massachusetts” was revealed by Massachusetts Gaming Commission. The study surveyed customers at Plainridge and their gambling habits. It aimed at gauging the economic benefits for the state after Massachusetts regulated commercial casinos within its borders. As it can be recalled, in 2011 the state’s officials passed Expanded Gaming Act, which allowed the establishment of 3 casino resorts and 1 slot parlor.
The study found that 90% of Plainridge patrons had visited casinos in other states in the year before Plainridge’s opening in 2015. These people mostly traveled to Connecticut or Rhode Island in order to enjoy their gambling hobby. Apart from that, it was estimated that non-gambling activities in the casino amounted up to 16.3% of Plainridge’s revenue.
According to the study, 11.4% of the casino patrons are residents of Plainville, while the other 66.5% are residents of other Massachusetts’ cities. The study also found out that the majority of players at Plainridge are older in comparison to the overall Massachusetts’ population. The casino patrons are also usually highly-educated and have a good and steady household income ranging from $50,000 to $100,000. The revealed that 87% of Plainridge’s customers prefer to play slots than electronic table games and bet on horse races.
Massachusetts’ Economy Benefits from Plainridge Park Casino
Plainridge Park Casino is operated by Penn National Gaming (PNG). The venue opened in 2015 to become the first commercial casino in Massachusetts. Plainridge is a slot-only venue, but it plays a key role in the state’s economy. The casino law seems to achieve its main goal to bring a fresh source of revenues in the state and boost its economy. Apart from that, in mid-May this year, it was revealed that Plainridge is the most powerful employer in Plainville.
Expressing the percentages in actual figures, the players spent a total of $172.5 million on both gambling and non-gambling activities at Plainridge Park. The report estimated that almost $100 million was “recaptured” from players, who otherwise would have spent their money in out-of-the-state casinos. The state collected $81 million in revenues and other casino taxes for the casino’s first year of operation.