Good News and Bad News for Twin River Out of Massachusetts
Tuesday, March 01, 2016
There is both good and bad news for Twin River Casino and Rhode Island’s revenue stream.
On the good news side the soap opera of locating a casino outside Boston in Somerville which looked like it was poised to break ground this spring took yet another twist when the developer - Steve Wynn put the project on hold.
The Boston Globe reports, “because of continued objections to a key environmental permit by officials in Somerville, just across the Mystic River from the massive project.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe delay, announced at a press conference featuring dozens of labor groups and two mayors who support the casino, ratchets up the pressure on Mayor Joseph Curtatone of Somerville, who has emerged as the last major holdout against the Wynn casino, and escalates a simmering, high-stakes feud.”
This appears to be just the latest in the chest pounding between casino operator Steve Wynn and Mayor Curatone.
Bad News for Twin River
On the bad news sign, Plainridge Casino is showing some signs of rebounding. The Massachusetts slot parlor started off in the summer of 2015 with great fan fair and impressive revenue, but the numbers did not hold.
The Massachusetts Gaming Commission (MGC) reported earlier this month that Plainridge for the the month of January 2016 generated $12,531,140.69 in Gross Gaming Revenue (GGR).
To date, the Commonwealth has collected $49,373,227.47 in total state taxes and race horse assessments from Plainridge Park Casino since its June 24, 2015 opening.
Related Slideshow: How Do Twin River Casino and Plainridge Park Casino Match Up?
With Plainridge Park Casino opening in Plainville, MA, GoLocal looked into how the new facility will measure up against Twin River Casino in Lincoln, RI.
Defintions:
1.) Payout Percentage: How much of each dollar spent is won back by a customer.
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