The Massachusetts Gaming Commission (MGC) has released a revenue report for the month of October 2022, according to which the state’s three gambling centers, namely Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor, generated a total of $97.3 million in gross gaming revenue (GGR) in October. The data shows a 1% increase year-over-year and a 3% rise compared to September’s figures amounting to $94million.
Massachusetts Casino Revenue Increases Every Year
The data reported by MGC indicates that the three gaming facilities, Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor, generate revenues, which exceed the ones from the previous years.
In September 2022, the three casinos generated a total of $94.35 million in gross gaming revenue. In September 2021, their combined GGR amounted to $88.82 million and in September 2020, it was a total of $70.54 million.
MGM Springfield and Plainridge Park Casino registered a decrease in slots hold compared to last month. On the other hand, EncoreBoston Harbor reported a slight rise in slots hold from 8.26% in August to 8.59% in September. In terms of table game revenue, the MGC’s data reported that the table-game GGR of Encore Boston Harbor climbed to $28.64 million for September in comparison to $22.71 million for August.
Gross Gaming Revenues and Taxes
Encore Boston Harbor reached the highest gross gaming revenue, which amounted to more than $62 million. MGM Springfield generated $22.8million and Plainridge Park Casino reported $12.3million. The three casinos generated roughly $27.2 million in tax revenue in October, $15.5 million of which is Encore Boston Harbor’s taxes due to the state. MGM Springfield contributed $5.7million and Plainridge Park Casino contributed$6million.
Until now, the Commonwealth has collected roughly $1.235 billion in taxes and assessments from Plainridge Park Casino, MGM Springfield and Encore Boston Harbor since the openings of each gaming center. Plainridge Park Casino, which is a category 2 slots facility, pays 49% in taxes of its GGR. 82% of the collected taxes are allocated to Local Aid and the remaining 18% are paid to the Race Horse Development Fund.
MGM Springfield and Encore Boston Harbor, which are category 1 resort casinos, are taxed 25% of their GGR. The resources are transferred to several specific state funds.
Speaking about Future Results
The final trimester of the year is expected to bring significant profits and revenues for the three casinos, especially December, which is considered always a great month for MGM Springfield and Encore Boston Harbor. As for Plainridge Park Casino, its figures usually drop around holidays, but this would not have a significant impact on the total figures of the three casinos since Plainridge Park Casino generates between $11 million to $12 million in monthly GGR.