Early in the Gambling Commission's process, the Commission convened an EDUMACATIONAL FORUM composed of CASINO EXPERTS...
...those who had researched, compiled and received MASSACHUSETTS TAXPAYERS' $$$ pronounced that CASINO GAMBLING would pave the streets with gold, solve ALL fiscal woes, create a GAZILLION JOBS....and much else.
The CASINO EXPERTS nodded in agreement like bobble heads...OH! YES! They were confident in their projections....
How did they know? Well they based their projections on DISPOSABLE INCOME.
If that was reasonable, then CASINOS belong in Newton, Sherborn, Dover and so on.
So, you fell for the PROPAGANDA even as others warned it was incorrect.
Now those BOGUS Projections have been revealed, the Propagandists, like Steve Crosby dismiss it with a wave of the hand and 'it's still good.'
Incidentally, the VIDEO FORUM was posted and disappeared.
When Steve Crosby was emailed about its disappearance, the inquiry was ignored.
Let's remember that the Slot Barn was intended to subsidize HORSE RACING, a dying industry.
How The Mass. Casino Industry Stands As 2016 Begins
BOSTON It’s been a big year for the casino industry in Massachusetts. The state’s first expanded gambling facility opened in June. The Plainridge Park Casino has 1,250 slot machines and a racetrack. And bigger casino proposals in Boston and Springfield are closer to becoming realities.
Here’s what’s changed over the past year:
At Plainridge in Plainville, right on the Rhode Island border, things have not gone exactly as planned.
Since the casino opened, it’s seen monthly revenue drop consistently — down from $18 million in its first full month of operation in July, to just less than $12 million last month. That means over the course of five months, the state’s first expanded gaming facility lost about a third of its revenue.
However, that is not necessarily cause for concern. The casino is certainly not bringing in as much revenue as Penn National Gaming, which owns Plainridge, wanted to make, but they had made very aggressive predictions for what this facility would earn. People were expecting it to poach a lot more traffic from the Twin River Casino in Rhode Island but that just hasn’t materialized. Twin River has actually revised its revenue projections up because Plainridge is less of a factor.
Meantime, Massachusetts is lowering its projections for tax revenue from Plainridge by 40 percent. That said, it’s not like Plainridge is losing money — far from it. The facility is still projected to make about $160 million and a healthy profit from that. But that’s a far cry from what Penn National and gaming analysts had expected from the first casino in Massachusetts.
If Penn National is concerned about the revenue decline, it’s not showing it. What we’ve consistently heard is that a drop-off in revenue is not uncommon after a big opening — that it takes time for revenues to pick back up after the initial honeymoon phase.
Even before it opened, Plainridge’s general manager, Lance George, admitted that they were likely to play around with offerings — both in terms of live entertainment and slot machines — to see what works.
“We’ll see what works for us, a lot of live entertainment, we’ll try some things, see what the local community responds to, and then we’ll try to fine tune our entertainment offerings as we move forward,” George said.
And they are making changes. They’re looking at changing some of their restaurant offerings — bringing in a Dunkin’ Donuts rather than the independent coffee shop. They also plan to change some of the games offered.
Plainridge will remain the only gambling facility in Massachusetts for longer than expected.
MGM Springfield And The Connecticut Border War
A rendering of the MGM Springfield casino. (Courtesy of MGM)
MGM Resorts is modifying its casino proposal for the city of Springfield. New site hearings on that are not expected until after the New Year.
This all started when MGM asked for a yearlong delay in opening because of work on I-91 in the area.
Basically, instead of opening in 2017 and causing a huge traffic jam, they wanted to wait until 2018. MGM’s president has repeatedly said they only have one chance to make “a good first impression.”
What has caused more consternation are MGM’s adjusted plans to their casino complex. Instead of this beautiful, 25-story glass hotel downtown, they’re going to have a six-story hotel. MGM says that won’t affect the price tag up to about $950 million, but it still prompted some push-back from local leaders — which led to MGM brass actually making a visit to Springfield to reiterate their commitment to the city.
In the background of all of this, Connecticut is looking to build a third casino — specifically on the way to Springfield to try and keep some of their gamblers in the state.
Springfield’s goal is to prevent the Massachusetts gamblers from going to Connecticut, but it’s also to try and siphon some of those north-central Connecticut customers and bring them up to Massachusetts. If you’ve got a third Connecticut casino right on the Massachusetts border, that eats up a lot of MGM’s projected customer base.
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