The Massachusetts Gaming Commission (MGC) has witnessed a surge in interest from potential applicants seeking sports betting licenses in the state. As of the latest survey released on October 7, a total of 29 operators have registered their intent to secure licenses across categories 1, 2, and 3. This development comes after Governor Charlie Baker signed House Bill 5164 into law in August, paving the way for the launch of in-person sports betting in late January and online betting in early March. The MGC’s unanimous 4-0 vote with one abstention solidified the timeline, allowing in-person sports wagering to commence ahead of the Super Bowl and mobile sports betting to coincide with the NCAA March Madness basketball tournament.
Sports Betting License Applicants:
A staggering 29 potential operators have expressed their interest in acquiring sports betting licenses in Massachusetts. These licenses are classified into three categories: category 1, category 2, and category 3. The distribution of interest among the categories reveals that three operators have their sights set on category 1 licenses, another three for category 2 licenses, while a remarkable 23 operators are vying for category 3 licenses.
Timeline for Sports Betting Launch:
Thanks to the MGC’s approval, in-person sports betting is all set to kick off in Massachusetts in late January. This launch date strategically precedes the highly anticipated Super Bowl, adding excitement to the state’s sports scene. Furthermore, the commission has planned for online betting to be introduced in early March, aligning it perfectly with the NCAA March Madness basketball tournament. However, the commission remains cautious, reserving the right to adjust the timeline if necessary.
Gaming Revenue Highlights:
Massachusetts’ gaming industry has been thriving, evident from the impressive gross gaming revenue (GGR) figures reported by prominent casinos in the state. In September, Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor collectively generated a staggering $94 million in GGR. This marked a commendable 6.8% increase in GGR compared to the same period last year, and a 2% rise from the previous month’s total of $92 million.
Breakdown of Revenue:
Among the three major casinos, Encore Boston Harbor emerged as the revenue leader, contributing an impressive $61.5 million to the state’s coffers. MGM Springfield followed closely behind with $20.5 million in GGR, while Plainridge Park contributed $12.1 million. These robust revenue figures translated into substantial tax revenues, with the three casinos jointly contributing $26.5 million in tax revenue for August. Encore Boston Harbor alone accounted for $15.3 million, while MGM Springfield and Plainridge Park added $5.1 million and $5.9 million, respectively.
The influx of interest in sports betting licenses demonstrates the immense potential of the industry in Massachusetts. The MGC’s proactive approach, combined with the strategic timeline for launching both in-person and online betting, positions the state’s sports betting market for substantial growth. Simultaneously, the steady rise in gaming revenue from Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor showcases the robustness of Massachusetts’ gaming sector. As the industry evolves and embraces new opportunities, stakeholders can expect continued success and a flourishing gaming landscape in the state.