MassGaming releases first week of gross gaming revenue for Plainridge Park Casino
- July 02, 2015
- by MGC Communications
- 0 comments
The Massachusetts Gaming Commission (MGC) reported today that the first week of operations at Plainridge Park Casino has generated $6,154,626.38 in Gross Gaming Revenue (GGR). The category 2 slots-parlor is taxed on 49% of gross gaming revenue, of that total taxed amount 82% is paid to Local Aid and 18% goes to the Race Horse Development Fund.
| Period | Gross Gaming Revenue* | Taxes (40%) | Race Horse Development Fund (9%) | Total to MA (49%) |
| 6/24/15-6/30/15 | $6,154,626.38 | $2,461,850.55 | $553,916.37 | $3,015,766.93 |
| *In MA Gross Gaming Revenue does not include promotional play. | ||||
Moving forward, MGC will post monthly revenue reports to its website MassGaming.com. The information will be available in the Revenue section and posted approximately the 15th of each month.
Please note that today’s report of $6,154,626.38 GGR represents unaudited revenue figures. The audited revenue will be available on August 17, 2015.
It is anticipated that Plainridge Park Casino will generate approximately $200 million of Gross Gaming Revenues in the first full year of operations, which would translate to approximately $98 million in revenues to the Commonwealth. Slot machine payouts are controlled by software and mandated by Commission regulation to have a minimum theoretical payout of 80 percent over the cycle of the game.
About Plainridge Park Casino
Opened to the public on June 24, 2015, Plainridge Park Casino is a $250 million dollar integrated racing and gaming facility that includes the only live harness-racing track in Plainville, Massachusetts. The gaming area features 1,250 of the latest slot machines, video poker, video blackjack, and more. The state’s single slots-only facility will generate approximately 500 permanent jobs and 1000 construction-related jobs. During its construction phase, Plainridge Park Casino exceeded their own diversity goals by awarding contracts of about $29 million to Minority, Women and Veteran owned businesses (out of $91.4 million total contracts awarded). It is anticipated that Plainridge Park Casino will generate approximately $200 million of Gross Gaming Revenues in the first full year of operations, which would translate to approximately $98 million in revenues to the State.