A new Massachusetts racetrack may soon open in the town of Rowley.
US.- Investment firm Rowley Group LLC is pushing for a new Massachusetts racetrack. The company plans to develop a US$60 million facility alongside the state’s Thoroughbred Horsemen’s Association.
They want to install the new Massachusetts racetrack on land off Route 133, in Rowley, a town in the Northeast.
John Grossi, the managing member of the Rowley Group, explained they have already invested US$6 million in the property. That’s why they are now asking for the rights to simulcast and take bets for races at tracks other than their own.
“We looked at other locations in all parts of the state,” said Grossi, as The Salem News quoted. “If the town and its residents accept it, it will be a great benefit for the town because the money it would be receiving through the simulcast wagering could run up to US$1 million.”
A new report from the local gambling regulator in Massachusetts indicates that MGM Springfield’s first year of operations was poor. Gaming revenue at the casino was approximately US$144 million below the projections for the first year of operations.
The Massachusetts Gaming Commission (MGC) released a report detailing that MGM’s gambling revenue increased 2.7% month-on-month in August. However, the numbers also indicate that in its first year, the casino’s gross gaming revenue (GGR) was lower than expected.
MGM totalled US$273.8 million from August 24, 2018, to August 30, 2019. The casino told regulators that it would bring approximately US$417 million in its first year of operations. This equals an average of US$34.8 million a month. However, MGM Springfield averaged US$22 million a month, its highest happening in March with US$25.7 million.