Plainridge Park Casino has seen its revenue drop to $12.6 million in September. In comparison, in August the casino managed to generate earnings of $15.2 million. Even though the gambling facility attracted lots of attention when it was opened late June, its profit has been falling with each passing month.
The Plainville casino establishment reached $18.1 million in revenues in August and this number has been decreasing ever since. According to Lance George, the casino’s vice president and general manager, this trend was consistent with other property openings that had a similar strong first couple of weeks. He added that “the numbers settle over the first few months” and then they “ramp back up to a more normalised run rate as your marketing takes hold.”
Additionally, George pointed out that September has always been a slower month than August, when more people tend to visit gambling facilities. Thus, according to the casino’s management this 17% drop in revenues was far from surprising.
Plainridge Park Casino pays 49% of its gross revenue to Massachusetts and since its opening it has paid over $25.5 million in taxes to the state. This month only the venue has sent $6.2 million to the state’s pockets, money that goes toward local aid and the Race Horse Development fund.