- Legal States
Jerome García May 20, 2022 3 min read
Encore Boston Harbor’s Gross Gaming Revenue Increases in April
There are a total of three casinos operating in Massachusetts currently: MGM Springfield, Plainridge Park Casino and Encore Boston Harbor. Earlier this week, the Massachusetts Gaming Commission (MGC), which is the gambling regulator in the state, released the gross gaming revenue (GGR) report for the three operators for April 2022. Based on the figures from the report, Encore Boston Harbor was responsible for more than half of the GGR and taxes last month.
Encore Boston Harbor GGR Hits $63.7M in April, up 26%
Overall, Encore Boston Harbor’s GGR last month hit $63.7 million, up more than 26% when compared to the $50.2 million in GGR from the same period in 2021. The MGC’s report provided a breakdown of the total GGR for the venue, showing that table games GGR last month hit $29.6 million, while slots GGR was $34.1 million. When compared to the $28.9 million in GGR for slots from April 2021, an increase of 15% is observed. On the other hand, this year, table games GGR grew significantly as well when compared to the $21.2 million in GGR from the same period the prior year.
As a category 1 resort casinos, both Encore Boston Harbor and MGM Springfield are taxed at 25% of their GGR. Considering the tax rate, last month, Encore Boston Harbor’s taxes hit $15.9 million. This marked another increase when compared to the $12.5 million the property paid in taxes for the same period in 2021.
Encore’s $63.7 million in GGR for April this year reaffirmed the operator’s leadership position in Massachusetts. In fact, when combined, the GGR for MGM Springfield and Plainridge Park Casino hit $35 million, which is approximately half of Encore Boston Harbor’s GGR for last month.
In total, the three properties generated approximately $99 million in GGR and contributed $27.9 million in taxes during the last month. Focusing on the bigger picture, the three licensed operators in Massachusetts have contributed approximately $1.146 billion in taxes since each of the properties started operating.
Plainridge Park Casino, MGM Springfield GGR Remains Strong
Last month, MGM Springfield’s GGR hit $22.5 million, up from the $21.9 million in GGR from April 2021. A further breakdown provided by the MGC shows that the venue’s table GGR was $4.1 million last month, while slots GGR hit $18.4 million. For April, MGM Springfield contributed $5.6 million in taxes, considering its 25% tax rate on GGR. Although MGM Springfield’s GGR last month increased when compared to April 2021, it still fell behind the $24.3 million in GGR from March this year.
Last but not least, GGR for slots-only Plainridge Park Casino last month hit $12.9 million. A year-over-year comparison shows that GGR increased slightly, considering the $12.5 million in GGR from April 2021. As a category 2 slots facility, Plainridge Park Casino is subject to 49% taxes on GGR. This means that last month, the property contributed $6.3 million in taxes to the state’s coffers.