September 16, 2022 Casino, Land Based, Finance

Massachusetts reports $92m in revenue from its three land-based casinos

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MGM Springfield was the only casino to report a monthly revenue increase.

Massachusetts Gaming Commission has announced that the state’s three casinos have generated a total of $92m in gross gambling revenue for August. This will translate into approximately $25m in taxes collected by the Bay State.

MGM Springfield has reported a revenue of $22m for the month of August, up from the $21.5m it generated last month. This demonstrates a solid recovery from 2020 when pandemic restrictions were still firmly in place and the casino showed $17.6m.

Encore Boston Harbor, the state’s other resort casino, reported $58m in gross slot and table game revenue for August 2022, down from $64.7m in July. However, it was still a year-on-year improvement from the $57.8m produced in August 2021, and a drastic recovery from the $42.3m achieved in August 2020.

The gaming commission has criticized MGM Springfield and Encore Boston Harbor this summer for not fully reopening poker tables and other games in the post-covid-19 era. The commission released the figures on Thursday, as it was about to meet and continue working on regulations governing the newly legalized sports betting industry in Massachusetts.

Meanwhile, Plainridge Park reported $12m in slot revenue (with Plainridge only offering slot games). This figure was stable compared to the $12m revenue reported last month, but down year-on-year from the $12.7m generated in August 2021.

To date, Massachusetts has collected approximately $1.18bn in total taxes and assessments from its three casinos since their respective openings. This tax revenue is spent primarily on local aid (20%), transportation and infrastructure (15%), and education (14%).

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