Massachusetts shows 18.8 % increase in October sports betting revenue

Massachusetts pulled in total taxable gaming revenue of $155.8m for October, up 11% from last month. This month also reflects the highest sports betting handle the state has generated in the year so far, at $571.8m.

The increases in both online and retail gaming revenue have several notable contributing factors.

Casino revenue went up from $90.4m in September to $96.7m for October, for an increase of 7%, with Encore Boston Harbor contributing $62.4m to table and slots gross gaming revenue (GGR). 

Meanwhile, total GGR contributed by Plainridge Park Casino was down in October, falling from $13.1m in September to $12.8m in October. 

While the three Massachusetts casinos, Encore Boston Harbor, Plainridge Park Casino and MGM Springfield contributed $96.7m to October’s total revenue, the majority of additional revenue came from online sports wagering, with retail sports wagering having contributed less than $1m.  

Of the $58.2m of taxable gaming revenue generated by online sports wagering, the most notable contributor was DraftKings, which brought in $33.5m. Following this was FanDuel and BetMGM, contributing $15.5m and $4.3m respectively. BetMGM also had the highest revenue hold percentage of any of the eight online operators in the state, at 12.5%.  

Generally speaking, growth has been seen across Massachusetts in many metrics. Total taxable gaming revenue was up 11%, casino revenue up 7% and total taxable sports wagering revenue was up nearly 19%.  

Whether this upward trend will continue in the state is yet to be seen; however, with sports betting handle having increased month-on-month since July, it may be a possibility.  

Beth Turner

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