MGM Springfield Experiences Slight Decrease in Gross Gaming Revenue in November
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In anticipation of the imminent arrival of retail sports betting in Massachusetts, MGM Springfield experienced a slight decrease of 3.78% in its gross gaming revenue (GGR) for tables and slots during November. According to the monthly revenue report by the Massachusetts Gaming Commission (MGC), the casino witnessed a decline of $865,011 in GGR for that month.
Following an 11.3% surge in GGR during October, MGM Springfield subsequently observed a minor decline.
November Revenue Breakdown
In November, MGM Springfield’s slot machines brought in $17,327,291.21, slightly lower than the $17,980,905.48 generated in October. Similarly, the casino’s tables earned $4,706,483.14 in November, compared to the $4,917,880.59 collected in October.
In November, the state’s trio of retail casinos, comprising Encore Boston Harbor and Plainridge Park Casino (PPC), collectively generated around $93 million in Gross Gaming Revenue (GGR). This amount reflects a decrease of $4 million compared to October, as all three operators experienced a decline in GGR during the previous month.
In November, the resort casinos were taxed by the state at a rate of 25% on Gross Gaming Revenue (GGR) and at a rate of 49% on Prepaid Play Cards (PPC). Specifically, MGM Springfield contributed $5,508,443.59 in taxes for that month. Collectively, the three casinos generated approximately $25.9 million in tax revenue for November, which was a decrease of nearly $1.35 million compared to October.
To launch Massachusetts sportsbooks by January 31, the following steps are crucial.
MGM Springfield 2022 GGR And Taxes
The following table provides a detailed breakdown of the Gross Gaming Revenue (GGR) at MGM Springfield for every month up until November 2022.
| Month | Slot GGR | Table GGR | Total Slot and Table GGR | Total (25%) in collected state taxes |
|---|---|---|---|---|
| January 2022 | $14,386,892.72 | $4,214,795.50 | $18,601,688.22 | $4,650,422.06 |
| 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 |
| TOTAL | $152,542,020.07 | $39,192,592.04 | $191,734,612.11 | $47,933,653.05 |
Make sure to check out: Sports Betting 101: Getting Familiar with the Same Game Parlay
MGM Springfield Approved For Retail And Online Sports Betting
In the beginning of the month, the members of MGC unanimously approved MGM Springfield’s request for a retail sports betting license and also granted a mobile betting license to BetMGM, which is owned by the same parent company, MGM Resorts.
In 2023, MGM Springfield will offer sports fans in the Commonwealth the opportunity to place wagers both in-person and online. The launch of retail betting is anticipated for late January, while online betting is expected to become available in March.
In 2022, the casino will open its retail sportsbook, equipped with two cutting-edge lounges and a dedicated sports wagering area within the TAP Sports Bar, providing an enhanced experience for customers.
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