Massachusetts Casinos Hit Record High Revenue in July

Massachusetts reports a record high revenue in July from two resort casinos and a slot parlor.

Massachusetts with a Record Revenue in July

The two resort casinos and a single slot parlor in Massachusetts recorded $95.74 million in July. Besides the high revenue from gaming, they generated a record of $27 million in taxes and fees for the state.

On Monday, the Massachusetts Gaming Commission (MGC) announced that Encore Boston Harbor came in first, generating a record-high $59.07 million in gaming revenue. The Everett casino’s slots brought $34 million from a handle of $402.82 million, while its table games generated a little over $25 million. One-quarter of Encore’s monthly gaming revenue goes to the state, which amounts to around $14.77 million.

MGM Springfield had its best revenue record since before Encore opened in June 2019. Its casino recorded $23.71 million in July. Slots produced $18.95 million in revenue from a handle of $219.4 million and table games recorded $4.76 million in revenue. MGM Springfield paid 25% in tax on gross gaming revenue and around a $5.93 million levy last month.

Plainridge Park Casino in Plainville also had a similar result in July, recording its best revenue since Encore’s opening. The slot machines recorded a handle of $185.68 million in July and took $12.95 million in revenue, with a 93.02% payout. Plainridge Park’s revenue was taxed at 49% and generated more than $6.34 million in taxes and fees for the state.

Massachusetts lifted its COVID-related restrictions two months ago. However, in July, casinos still didn’t resume poker games. The MGC reportedly announced that it would look into the matter and check if operators are legally obligated to offer poker.

Massachusetts Can Expect $259.5 Million in Annual Revenue

Gambling became legal in Massachusetts in 2011 and, since then, the state has collected over $842.66 million in revenue. Plainridge Park generated around $438.4 million for the state, MGM – $158.16 million, and Encore Boston Harbor – $246.1 million.

Based on monthly averages in the past, Massachusetts can expect around $259.5 million annual gaming revenue.

Sports Betting Bill Advances in Massachusetts

The state restarted talks on sports betting this year and bills legalizing sports wagering in the state quickly advanced. As a result, Massachusetts could soon join its neighboring states and have sports betting and online wagering active. If legalized, sports betting could bring millions in revenue to the state.

Last Thursday, lawmakers in the House of Representatives in Massachusetts put forward the legalization of sports betting. The bill advanced with overwhelming support, as most legislators believe that sports betting will boost the state’s economy.