The proximity of the Plainridge Park Casino in Plainville, Massachusetts has had little measurable impact on commercial real estate values in the area. This is also true of the other casinos in the state, according to a study by University of Massachusetts Amherst.
The report was prepared by the university’s Social and Economic Impacts of Gambling in Massachusetts research group for the Massachusetts Gaming Commission.
In the case of Plainridge Park, it was difficult to assess the effects on the host town because there are so few commercial properties in the area. The report stated: “It is difficult to discern whether the construction of Plainridge Park Casino had any bearing on commercial sale prices in the area….” It looked at the effects of the MGM Springfield on that city and of the Encore Boston Harbor on its host city of Everett.
It looked at housing and real estate conditions before the licenses were announced and after.
Supporters of casinos and their critics often have lively discussions about such alleged effects.
The report noted that the Plainville casino was built near the Gillette Stadium, Xfinity Center and an outlet mall but relatively distant from the town center. It said, “While commercial building square footage in surrounding communities grew at a similar rate to that of the State, Plainville’s growth rate suggests that the commercial buildings being erected in Plainville were larger on average than those being built across the state or its surrounding communities.”
The report concluded, “commercial real estate markets have tended to be strong in all three host communities, but we do not see any dramatic divergences from the statewide trend.”
