Massachusetts first gambling venue saw its revenue dropped by more than 5 percent in October—it’s worst month since January.
According to the Massachusetts Gaming Commission, the Plainridge Park Casino’s gross gaming revenue for October dropped to $12.58 million from the $12.81 million generated in September.
The Plainville-based casino’s total bets was up 20 percent from January. However, the casino has also decided to boost its payouts in order to build “a durable customer base,” according to The Boston Globe report.
In fact, Plainridge Park had more wins per spin delivered in October since it opened in June 2015, which, in turn, resulted in happier players but lower profits. Last year, the casino’s machines kept close to 10 cents per dollar, but in October, it held 7.2 percent of wagers. And with “coin in” approaching $175 million, every change in the payout percentage is bound to affect the casino’s revenues.