January 15, 2021 Casino, Land-Based

Masscahusetts casinos earn $50m for December, down 40% y-o-y

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Massachusetts’ three commercial casinos generated gross gaming revenue of approximately $50m for December 2020, down 40% y-o-y.

GGR was up slightly from November, when the casinos combined for about $45m. 

Wynn Resorts’ Encore Boston Harbor earned $29.3m for the month, up approximately $2m from November but down 46% from December 2019, when the casino produced a record monthly win of $54m. 

MGM Springfield brought in $11.4m last month, an improvement of about $900K from November when the casino earned its worst ever monthly pull at $10.5m. MGM Springfield revenue fell 40% y-o-y. 

Plainridge Park, a slots-only casino, collected GGR of $9.2m, down 10% from a year ago. Revenue grew by about $1.6m from November. 

The three casinos are operating under a 25% casino floor capacity limit but actual occupancy is closer to 17%, a Massachusetts gaming official told MassLive this week. 

The 25% capacity limit is in effect until 24 January. 

MGM Springfield laid off or furloughed 250 employees in early November, citing an overnight curfew. 

Low casino tax revenue could pressure state lawmakers to legalize sports betting in the coming year. 

Last summer Massachusetts Gov. Charlie Baker said sports betting would be a way for the state to address budget shortfalls in the aftermath of the Covid-19 pandemic. 

“I absolutely believe that, in addition to sort of the cross-border competition issues that would be addressed by doing something here in Massachusetts, it would certainly generate revenue and it would be something that a lot of people would be interested in here at home as opposed to doing across the border,” Baker said in July 2020.

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