Massachusetts casinos shows monthly revenue increase
The state’s numbers compare favorably to other June figures.
Massachusetts has generated gross gaming revenue (GGR) of $93m for July, a slight increase from May’s results. Net revenue of $26.2m was earned by the government from this performance.
June has been a bad month so far for the gambling industry in most US states and cities that have reported so far. New York and Detroit reported 34% and 7% year-on-year drops in revenue respectively.
Despite encouraging revenue numbers, the total sports handle was $744,379,433, down by 2.4% from May, showing that fewer bets were being made statewide.
Massachusetts’ relative stability can be attributed to the performance of its popular slots parlors and its reliance on retail gaming rather than sports betting. Sports betting is traditionally weak during the off-season for major sporting leagues (except the MLB) in June.
Of the Bay State’s major casinos, Boston Harbor led the way, with more than $60m GGR raked in, $2m more than its closest competitor – the Everett casino. Meanwhile, MGM Springfield hauled in $21.1m in gaming revenue in June, almost exactly the same figure it generated in May.
The slots parlor at Plainridge Park Casino grossed $11.9m in revenue in June, the only one of the state’s three gaming centers to post a monthly revenue increase. This gave $5.8m in taxes and fees to the state.
Massachusetts’ June performance should be encouraging following May’s, despite the slight decline in total betting handle.
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