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PLAINVILLE - Plainridge Racecourse President Gary Piontkowski said Sunday he and his partners are ready to fund a $100 to 125 million renovation and expansion of the Route 1 track immediately if state lawmakers allow 1,500 slot machines there.

The first 400 slot machines would start generating revenue for Massachusetts 90 days after being approved, Piontkowski said.

Each machine would generate - conservatively - $275 per day, about half of which the state would get, he said.

Piontkowski spoke during a public meeting that he called at the track to promote legalizing slot machines at race tracks, turning them into "racinos."

He invited Plainville residents, town and state lawmakers and horsemen to the session. Piontkowski said a Plainridge racino would create about 1,000 new jobs even as the state struggles with a massive budget deficit that likely will cut state aid to cities and towns shortly.

"There's not a lot of businesses expanding. There's not a lot of businesses offering new jobs. We're sitting here prepared to do it tomorrow," Piontkowski said.

Piontkowski asked Plainville to "help us out" in getting slots legalized at the tracks.

He said 11 bills on this topic have been filed for this session.

Area legislators said they would heed Plainville's wishes on this matter.

"If you folks are going to continue to support it, then we'll support it in the Legislature," said state Sen. Scott Brown, R-Wrentham.

State Rep. Richard Ross, R-Wrentham, called a Plainridge racino "a great opportunity" for Massachusetts.

"They're already here. We're not asking the taxpayers to invest in it," Ross said.

Plainville Town Administrator Joseph Fernandes also endorsed the idea.

Fernandes said he hoped "the financial situation of the state" would generate support for it. Piontkowski said legalizing slots would keep in Massachusetts several hundred million dollars spent by Bay Staters patronizing casinos and "racinos" in Connecticut and Rhode Island.

He said Lincoln Park in Rhode Island even has a billboard "in front of Gillette Stadium, three-and-a-half miles away from this facility."

"That is why we sit here today and say it's time for Massachusetts dollars to stay in Massachusetts," Piontkowski said.

As envisioned, Plainridge would renovate and expand its existing building for slots, he said.

There would be a 1,000-space parking garage with valet service.

Plainridge would still have about 40 acres of its 91-acre site undeveloped, he said.

"We don't know if there will be a hotel. We don't know if there's going to be some kind of retail operation," Piontkowski said.

Some guests Sunday opposed slots at Plainridge.

Les Bernal, executive director of StopPredatoryGambling.org, said slot venues rely on compulsive gamblers to pay off.

"It's the high-tech equivalent of loaded dice," Bernal said.

"The fact that they don't talk about the equipment (in the presentation) should be an open door for the media members in this state."

Piontkowski said he would target the bus trips between Massachusetts and the slot venues in Rhode Island and Connecticut.

"We're not out looking for those big guys. They won't come here," he said.

Selectwoman Andrea Soucy said Piontkowski had not discussed "the elephant in the room": Governor Deval Patrick's relationship with New England Patriots owner Robert Kraft.

Kraft recently built the Patriot Place shopping plaza up Route 1 in Foxboro, and might want a casino to further make that site a destination, Soucy said.

But Piontkowski said National Football League rules prohibit owners from investing in gambling.

"That's great news," Soucy replied.

After the session, Piontkowski added that he does not expect Kraft to lobby against turning Plainridge into a racino.

"I didn't lobby against that 68,000-seat stadium that has cars blocking my driveway every Sunday," Piontkowski said, referring to Kraft's Gillette Stadium, a short drive away on Route 1 in Foxboro.

"He didn't lobby against the building of this facility. He knew when we built this facility that we'd be looking to expand."

MICHAEL GELBWASSER can be reached at 508-236-0439 or at mgelbwasser@thesunchronicle.com.