Massachusetts hits $1bn mark after February numbers are announced
The February collections in taxes and assessments put the state over $1bn, revealed by the Gaming Commision.
After collecting slightly over $24m last month from slots parlors and casinos, the Massachusetts State Government has surpassed $1bn in taxes and assessments.
Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor as a whole generated about $86m in gross gaming revenue for the month of February. Individually, Encore Boston Harbor earned $54.7m, Plainridge Park Casino earned $10.9m, and MGM Springfield garnered $19.9m.
Gaming Commission Chairwoman Cathy Judd-Stein said: “Just over 11 years since this law was signed, the Commonwealth has collected over $1 billion in total taxes and assessments from casinos operating in Massachusetts.”
“This revenue has and continues to benefit the Massachusetts economy by bolstering local aid, funding transportation and infrastructure projects, ensuring essential community mitigation initiatives are backed, and that the health and safety of the industry and those who engage with it are a top priority,” she went on to say in her statement.
Judd-Stein also mentioned how this showcases the success of the law itself, “This is a marker of the success of the law and the commitment of our licensees, my fellow commissioners past and present, the MGC staff, and residents of the Commonwealth to a safe and vibrant gaming industry in Massachusetts.”
Both MGM and Encore are taxed at a 25% rate, the money collected then gets funneled into various programs. From the resort casinos, 20% goes to local aid, 15% to the Transportation Infrastructure Fund, 14% to an education fund, and 10% to a debt and long-term liability reduction trust fund.
Plainridge Park pays a much higher 49% tax on gross gaming revenue. From this, 82% goes directly to local aid while the remaining 18% is put toward the state’s Race Horse Development Fund.
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
