Plainridge Park Casino revenue dips

Plainridge Park Casino revenue dipsPenn National’s Plainridge Park Casino took in $13.3 million in gross slots revenue in April, a slight decline from the $13.5 million won in March.

Because the state takes 49 percent of slots revenue in taxes from the only operating casino in Massachusetts, the decline means that tax revenues are down about $100,000 from March to April. The state claimed $6.52 million last month, 82 percent of which goes to local aid and 18 percent of which funds the state’s Race Horse Development Fund.

Plainridge, which is in competition with the Twin River Casino 11 miles away across the Rhode Island Border, has faced questions about its financial performance since state officials slashed their expectation for the gaming facility after its launch in June 2015.

The state initially expected to take in $105 million per year in tax revenues. With slots intake not meeting targets, that projection was lowered to $83 million.

The casino’s March and April numbers are improvements since this winter, when the casino took in a low of $11.3 million in gross revenue in December. Plainridge Park has generated $68.7 million in tax revenues so far, putting it on track to finish close to the $83 million target if revenues hold steady in May and June.

Gamblers spent a total of $174.8 million on the casino’s 1,200 or so electronic games last month, but 92.4 percent of that was paid out in prizes, leaving $13.3 million in gross revenues.

Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: 

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