Plainridge Park collects USD 157M in gambling revenue
"Overall, it's done better than I expected," says David Gulley, an economics professor at Bentley University in Waltham, Massachusetts. "It's always hard for a new gaming facility to live up to expectations and to maintain the initial excitement that surrounds the grand opening."
Plainridge Park is retaining about 8 percent of all slot machine wagers, down from just over 10 percent when it first opened, according to state data. Its "hold," as the industry calls it, has been as low as 7 percent of wagers (or "coin-in") at various times this year.
The result has been a "significant economic plus" for the state, which collects 49 percent of Plainridge's gambling revenues, says Stephen Crosby, chairman of the state Gaming Commission.
Plainridge has generated $152 million in state funds over two years, created 500 jobs (of which 90 percent are currently held by state residents) and spent nearly $2 million annually at local businesses, he said.
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