Massachusetts
State cuts tax projections for Plainridge Park casino
State officials have cut by nearly 40% the amount of tax revenue they expect Plainridge Park Casino to generate, the latest sign that the state’s first casino is falling short of expectations.
2015-12-16
Reading time 32 seg
State officials have cut by nearly 40% the amount of tax revenue they expect Plainridge Park Casino to generate, the latest sign that the state’s first casino is falling short of expectations.
Located off Interstate 95 near the Rhode Island border, Plainridge was supposed to stop the stream of Massachusetts gamblers headed for Twin River Casino in Lincoln, R.I., just 11 miles away.
But budget revisions by officials in both Massachusetts and Rhode Island after Plainridge’s gala opening on June 24 suggest that the slot parlor has not kept Massachusetts gamblers from heading across the border.
Budget analysts in Massachusetts at first projected Plainridge to generate $262 million annually in gambling revenue but slashed that estimate to $207 million in October and to $160 million last month, based on lower-than-expected sales during Plainridge’s first few months of operation.
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