Massachusetts Gaming Commission announces August financial results
The state’s three properties raised $92m in revenue for the month.
The Massachusetts Gaming Commission has announced the state’s financial results for the month of August, in which the state saw a slight drop in revenue from July. August saw gross-gaming revenue come in at $92m, decreasing from July’s $95.74m.
From this the state will receive a revenue share of $26.15m, in comparison to the $27m received in July. Despite this drop, August still sits around $5m higher than the monthly average, which is $21.84m.
Specifically, Encore Boston Harbor had the most successful month of all Massachusetts properties. The casino earned total GGR of $57.86m. Of this, $25.4m came from table games and $32.4m from slot machines.
Coming in second, MGM Springfield collected $21.8m in August, with $17m of this coming from slots. And Plainridge Park Casino recorded revenue of $12.73m, $6.24m of which went to the state.
Of the funds collected from both the MGM Springfield and Encore Boston Harbor, 20% went to local aid, 15% to transportation and infrastructure, 14% to education, 10% to debt reduction, 10% accelerated debt and 9.5% to the gaming economic development fund.
In July, state representatives approved sports betting when the House voted 156-3 to regulate the state’s sports wagering market.
“I represent a district which borders New Hampshire,” said Rep. Andy Vargas about the legalization of sports betting. “In Haverhill, you can literally walk across the border into New Hampshire and place a bet. I know that my constituents who partake in sports wagering would rather place these bets in their homes and in their own state, and would rather have any revenue collected going towards benefiting their home state of Massachusetts.”
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