The Massachusetts Gaming Commission has released its latest report, revealing that the state’s three casinos, Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor, collectively generated $98.7 million in gross gaming revenue (GGR) in July. This represents a 6.1% increase from the previous month’s total of $93 million. Additionally, the report highlights the tax contributions from each casino and the recent legalization of sports betting in Massachusetts.
Revenue Breakdown:
Encore Boston Harbor led the way with a GGR of $64.7 million, followed by MGM Springfield with $21.5 million, and Plainridge Park Casino with $12.5 million. In terms of tax revenue, the three casinos contributed a total of $27.6 million in July. Encore Boston Harbor accounted for $16.2 million, MGM Springfield contributed $6.1 million, and Plainridge Park Casino provided $5.4 million. Since the opening of the gaming facilities, Massachusetts has collected approximately $1.12 billion in total taxes and assessments from the casinos.
Taxation Structure:
Plainridge Park Casino, categorized as a slots facility, is taxed on 49% of its GGR. Out of this total, 82% is allocated to Local Aid, while the remaining 18% is directed towards the Race Horse Development Fund. On the other hand, MGM Springfield and Encore Boston Harbor, classified as category 1 resort-casinos, are taxed at 25% of their GGR. The distribution of these funds is determined by the gaming statute and benefits various specific state funds. Recognizing the demand for poker, the Gaming Commission has urged Encore and MGM to reopen poker tables to provide gamblers with increased access to the game.
Sports Betting Legalization:
Governor Charlie Baker recently signed House Bill 5164 into law, making sports betting legal in Massachusetts. This development makes Massachusetts the 36th state in the US to legalize sports betting. The bill received approval during the final hours of this year’s legislative session, following extensive negotiations between the House and Senate.
With the Massachusetts Gaming Commission’s latest report, it is evident that the state’s three casinos continue to generate substantial revenue. Encore Boston Harbor, MGM Springfield, and Plainridge Park Casino play vital roles in contributing to the local economy through tax revenue. Furthermore, the legalization of sports betting in Massachusetts opens up new opportunities for both operators and sports enthusiasts. As the gaming landscape evolves, Massachusetts remains at the forefront of the industry, ensuring a regulated and thriving gambling environment for its residents and visitors.