January 15, 2020 Casino

Massachusetts posts sluggish December revenue of $83m

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Massachusetts’ three casinos ended 2019 on a downward slide by taking in a total $83m in December gaming revenue.
That marks a 6% increase from November but only Encore Boston Harbor saw its revenue
increase month-on-month.
 
Encore earned $54m of revenue from slots and table games in December, up 14% from
November. The December numbers mark a new revenue watermark for Encore, which has so far performed below expectations.
 
The casino saw its slot revenue drop by $200,000 but was saved by a strong month at the tables, where it earned $7m more than the prior month.
 
MGM Springfield suffered its worst full month since opening in late August 2018, bringing in $19m. That’s a 5% drop from November and a 12% decline year-on-year.
 
Plainridge Park Casino brought in $10.2m in December, its worst full month since opening in late June 2015.
 
Revenue has fallen at Plainrdige Park for seven straight months.
 
The outlook for Massachusetts’ casinos doesn’t look balmy with New Hampshire set to launch mobile sports betting this month.
 
In a twist of irony, New Hampshire teamed up with Boston-based DraftKings to operate its
mobile product.
 
Atlantic City’s re-emergence in 2019 has also cut into Massachusetts revenue.
 
Meanwhile, there’s no sign that Massachusetts will pass sports betting legislation anytime soon.
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