In October, the Massachusetts casino resorts reported a decent increase in their gross gaming revenue (GGR). MGM Springfield recorded a $2 million increase compared to September, as the Massachusetts Gaming Commission reports.
MGM Springfield’s GGR for October Crossed $20 Million
MGM Springfield managed to record a total GGR of $21.4 million from table games and slots for the month of October. As a comparison, the GGR of the casino establishment in September was $19.4 million. As the commission expands, the casino had total revenue of $4.6 million from table games, while the slot revenue was approximately $16.9 million.
Encore Boston Harbor also recorded a pretty decent rise in October GGR as it was $62.8 million. In September, the casino’s revenue was $57.5 million. The commission elaborated that the revenue from slot machines reached $32.2 million, while table games accounted for $30.6 million of the total revenue.
The third casino in Massachusetts is Plainridge Park whose October revenue was $11.7 million. However, it is worth noting here that this casino doesn’t have table games – it only features slots. As the numbers suggest, Plainridge Park actually suffered small losses compared to September, when the recorded revenue was $12 million.
All in all, these three Massachusetts casinos had an October revenue of $96 million and as the commission says, it is a decent increase compared to the September total revenue of $89 million.
Taxes Paid by The Casinos Totaled $26.8 Million
Of course, Massachusetts casinos are obliged to pay taxes on their revenue. With that being said, the commission reported that the October taxes amounted to $26.8 million. Since Encore Boston Harbor and MGM Springfield are classified as Category 1 casinos, they need to pay 25% taxes on their GGR. As determined by the gaming statute, the received tax money is allocated to state funds.
Plainridge Park is a Category 2 casino and its GGR tax is 49%. According to the statute, the Race Horse Development Fund receives 18% of the money, while local aid receives the other 82%.
Massachusetts Could Legalize Sports Betting By The End of 2021
A new sports betting bill that was introduced during the summer could have a pretty decent ending to 2021. As the Massachusetts Senate has wrapped on a few other important legislations, a space for the new sports betting bill has been made.
Although the chances are not that big, the bill may be passed by the end of the year. At the moment, there are two bills, whose main difference is betting on college sports. Senator Eric Lesser’s sports betting bill forbids betting on college events, while the House sports betting proposal H3993 will allow it.