August 16, 2022 Casino, Land Based, Finance

Massachusetts reports 3.1% year-on-year revenue increase for land-based casinos

By

Encore Boston Harbor drove these results with 66% of market revenue share.

Massachusetts announced a Gross Gaming Revenue (GGR) of $98.7m from the state’s three casinos, with Encore Boston Harbor taking the lion’s share, reporting $64.7m in revenue which encompassed 66% of the retail casino total.

Meanwhile, MGM Springfield collected $21.5m (a 22% market share) while the Plainridge Park Casino in Plainville gained $12.5m, making up the remaining 13% market share. These results helped the state climb to a 3.1% revenue increase from July 2021 and a 21.1% rise from pre-pandemic July 2019.

Retail gaming continued to be the core of Massachusetts gambling industry. Encore Boston Harbor reported GGR of $35.1m from slot machines and $29.7m from table games. MGM Springfield reported GGR of $17.3m from slot machines and $4.2m from table games. Plainridge Park, a slot machines-only casino, trailed behind with $12.5m in total revenue.

Deutsche Bank gaming industry analyst Carlos Santarelli issued a report to investors on Monday, saying that Encore and Plainridge Park performed well above expectations, while MGM was about 0.3% below revenue projections.

J.P. Morgan gaming industry analyst Joe Greff said that while the state’s win per day was up 2.6% sequentially from previous months, it still lagged behind other legalized states.

Massachusetts collected $27.7m in tax revenue from the three casinos in July. Encore Boston Harbor contributed $16.2m in tax revenue; MGM Springfield, $6.1m; and Plainridge, $5.4m. Encore Harbor and MGM both have a tax rate of 25% while Plainridge has a hefty 49% tax rate.

Latest News
Product Spotlight
VELVIX
Big announcements from Velvix for G2E 2022 including the launch of several never-before-seen game titles and their flagship game title “BaoBao King” in the running for ’Slot of the Year’
View More
Product Spotlight
CasinoTrac
A fully integrated on-site complete casino analytics platform!
View More
Virtual Showroom
SUPPLIER

Eclipse Gaming



SUPPLIER

SCCG Management


SUPPLIER

CasinoTrac


SUPPLIER

Interblock


SUPPLIER

BetConstruct



SUPPLIER

TransAct


SUPPLIER

Kambi Group


SUPPLIER

GamingArts


SUPPLIER

Relax Gaming