February Mass Casino Revenue Shows Positive Effect Of Sportsbooks
Massachusetts casinos combined to make over $98 million in February revenue, according to a report released Wednesday by the Massachusetts Gaming Commission.
The exact February 2023 gross gaming revenue (GGR) total — $98,003,399.66 — is a 1.1% increase from the January total of $96.9 million. The overall handle was a 2.5% decrease from January — not shocking, as there were three fewer days in February (28) than in January (31).
The slight increase in revenue despite having three fewer days coincides with the first full month with legal retail sportsbooks at Massachusetts casinos. There was hope that sports betting would bring a new segment of the population to the casinos, where they would gamble on slots and table games in addition to sports bets.
MA casinos paid Massachusetts $27,390,625.11 in February taxes.
Breaking down February casino revenue
Encore Boston Harbor led Massachusetts casinos with $62,705,178.76 in February revenue. MGM Springfield was second at $23,257,490.95 and Plainridge Park Casino rounded out the group at $12,040,729.95.
Encore Boston Harbor
Encore Boston Harbor’s February revenue of $62,705,178.76 marked a 1.4% increase from the $61,856,924.44 it made in January. EBH’s revenue hold of 8.25% was its second-highest since last September.
Massachusetts received $15,676,294.69 in February taxes from Encore Boston Harbor.
RELATED: $25.7 Million Bet At MA Casino Sportsbooks In First Full Month Of Operation
Encore Boston Harbor revenue by month
| Month | Slot GGR | Table GGR | Total Slot and Table GGR |
Total (25%) in collected state taxes |
|---|---|---|---|---|
| February 2022 | $31,054,019.69 | $23,688,641.56 | $54,742,661.25 | $13,685,665.31 |
| March 2022 | $35,181,572.90 | $29,685,959.75 | $64,867,532.65 | $16,216,883.16 |
| April 2022 | $34,118,122.32 | $29,620,598.98 | $63,738,721.30 | $15,934,680.33 |
| May 2022 | $32,624,183.92 | $25,408,848.58 | $58,033,032.50 | $14,508,258.13 |
| June 2022 | $31,468,282.71 | $28,589,032.87 | $60,057,315.58 | $15,014,328.90 |
| July 2022 | $35,051,906.67 | $29,672,721.61 | $64,724,628.28 | $16,181,157.07 |
| August 2022 | $35,372,908.84 | $22,711,324.56 | $58,084,233.40 | $14,521,058.35 |
| September 2022 | $32,941,867.36 | $28,642,137.95 | $61,584,005.31 | $15,396,001.33 |
| October 2022 | $33,677,401.58 | $28,365,680.78 | $62,043,082.36 | $15,510,770.59 |
| November 2022 | $32,841,989.82 | $26,588,480.33 | $59,430,470.15 | $14,857,617.54 |
| December 2022 | $34,984,642.31 | $33,475,100.78 | $68,459,743.09 | $17,114,935.77 |
| January 2023 | $34,197,723.87 | $27,659,200.57 | $61,856,924.44 | $15,464,231.11 |
| February 2023 | $32,797,874.02 | $29,907,304.74 | $62,705,178.76 | $15,676,294.69 |
| March 2023 | $36,230,027.77 | $29,248,142.34 | $66,178,170.11 | $16,554,542.53 |
Encore Boston Harbor revenue by year
| Total GGR | Total in collected state taxes | |
|---|---|---|
| 2019 | $313,943,179.12 | $78,485,794.80 |
| 2020 | $331,716,869.90 | $82,929,217.48 |
| 2021 | $634,395,489.92 | $158,598,872.48 |
| 2022 | $729,724,772.54 | $182,431,193.15 |
| 2023 | $124,562,103.20 | $31,140,525.80 |
| Total | $2,134,342,414.68 | $533,585,603.67 |
MGM Springfield
MGM Springfield made $23,257,490.95 in February revenue. That’s a 1.8% increase from the $22,853,749.75 it made in January. It reported an 8.82% revenue hold, the highest of all Massachusetts casinos in February.
For February, MGM Springfield paid Massachusetts $5,814,372.74 in taxes.
MGM Springfield revenue by month
| Month | Slot GGR | Table GGR | Total Slot and Table GGR |
Total (25%) in collected state taxes |
|---|---|---|---|---|
| February 2022 | $15,711,906.08 | $4,220,007.75 | $19,931,913.83 | $4,982,978.46 |
| March 2022 | $18,837,606.75 | $5,442,915.75 | $24,280,522.50 | $6,070,130.63 |
| April 2022 | $18,404,598.73 | $4,135,430.05 | $22,540,028.78 | $5,635,007.20 |
| May 2022 | $17,113,181.60 | $4,039,067.85 | $21,152,249.45 | $5,288,062.36 |
| June 2022 | $16,936,388.21 | $4,209,619.31 | $21,146,007.52 | $5,286,501.88 |
| July 2022 | $17,275,318.86 | $4,242,403.60 | $21,517,722.46 | $5,379,430.62 |
| August 2022 | $17,518,085.09 | $4,474,746.40 | $21,992,831.49 | $5,498,207.87 |
| September 2022 | $16,358,042.03 | $4,213,605.83 | $20,571,647.86 | $5,142,911.97 |
| October 2022 | $17,980,905.48 | $4,917,880.59 | $22,898,786.07 | $5,724,696.52 |
| November 2022 | $17,327,291.21 | $4,706,483.14 | $22,033,774.35 | $5,508,443.59 |
| December 2022 | $17,640,504.18 | $4,829,782.52 | $22,470,286.70 | $5,617,571.68 |
| January 2023 | $18,452,254.93 | $4,401,494.82 | $22,853,749.75 | $5,713,437.44 |
| February 2023 | $17,858,976.07 | $5,398,514.88 | $23,257,490.95 | $5,814,372.74 |
| March 2023 | $19,792,210.64 | $4,287,427.13 | $24,079,637.77 | $6,019,909.44 |
MGM Springfield revenue by year
| Total GGR | Total in collected state taxes | |
|---|---|---|
| 2018 | $101,482,954.83 | $25,370,738.71 |
| 2019 | $252,642,750.41 | $63,160,687.62 |
| 2020 | $137,964,730.81 | $34,491,182.72 |
| 2021 | $247,034,037.74 | $61,758,509.44 |
| 2022 | $259,137,459.23 | $64,784,364.84 |
| 2023 | $46,111,240.70 | $11,527,810.18 |
| Total | $1,044,373,173.72 | $261,093,293.43 |
Plainridge Park Casino
Plainridge Park Casino was the only Massachusetts casino to report a lower revenue in February compared to January. Its $12,040,729.95 of February revenue was a 1% decrease from its January revenue.
PPC paid Massachusetts $5,899,957.68 in February taxes and race horse development funds (rhdf).
Plainridge Park Casino revenue by month
| Month | Slot GGR | Total in collected state taxes and rhdf (49%) |
|---|---|---|
| February 2022 | $10,950,511.23 | $5,365,750.50 |
| March 2022 | $12,937,163.66 | $6,339,210.19 |
| April 2022 | $12,908,918.51 | $6,325,370.07 |
| May 2022 | $11,731,163.49 | $5,748,270.11 |
| June 2022 | $11,967,439.63 | $5,864,045.42 |
| July 2022 | $12,498,196.15 | $6,124,116.11 |
| August 2022 | $11,961,566.29 | $5,861,167.48 |
| September 2022 | $12,199,572.68 | $5,977,790.61 |
| October 2022 | $12,363,500.65 | $6,058,115.32 |
| November 2022 | $11,392,148.60 | $5,582,152.81 |
| December 2022 | $12,310,688.75 | $6,032,237.49 |
| January 2023 | $12,166,668.78 | $5,961,667.70 |
| February 2023 | $12,040,729.95 | $5,899,957.68 |
| March 2023 | $14,256,239.09 | $6,985,557.15 |
Plainridge Park Casino revenue by year
| Total Slot GGR | Total collected state taxes | |
|---|---|---|
| 2015 | $88,230,548.03 | $43,232,968.52 |
| 2016 | $155,041,917.60 | $75,970,554.32 |
| 2017 | $164,786,229.97 | $80,745,252.68 |
| 2018 | $171,589,629.33 | $84,078,918.38 |
| 2019 | $151,948,969.73 | $74,454,990.79 |
| 2020 | $82,254,142.69 | $40,304,529.91 |
| 2021 | $139,347,781.80 | $68,280,413.08 |
| 2022 | $143,063,200.71 | $70,100,968.33 |
| 2023 | $24,207,398.73 | $11,861,625.38 |
| Total | $1,120,469,818.59 | $549,030,221.42 |
Tax revenue trends
It’s worth noting again that, in the first month with retail sportsbooks, the casinos reported a higher revenue than January despite February having three fewer days this year.
Obviously, this may or may not have something to do with sports betting foot traffic. We’ll need more months of data to analyze any real trends in that regard. Perhaps casino gamblers were just more unlucky in February.
However, if we take the average daily revenue ($3.5 million) and multiply it by 31 days instead of 28, that’s $108.5 million in revenue, which would be an 8.6% increase from January. That’s imperfect math, but it’s interesting to analyze.
Related Articles
