MGM Springfield Experiences Slight Decrease in Gross Gaming Revenue in November
With the launch of retail sports betting on the horizon in Massachusetts, MGM Springfield saw a 3.78% dip in gross gaming revenue (GGR) during November for its tables and slots. In its monthly revenue report, the Massachusetts Gaming Commission (MGC) revealed that the casino’s GGR declined by $865,011 in November.
The slight decrease came after MGM Springfield experienced an 11.3% increase in GGR during October.
November Revenue Breakdown
MGM Springfield’s slots generated $17,327,291.21 in November, compared to $17,980,905.48 in October. In addition, the casino’s tables collected $4,706,483.14 in November compared to $4,917,880.59 in October.
The state’s three retail casinos, which include Encore Boston Harbor and slots-only Plainridge Park Casino (PPC), took in approximately $93 million in GGR in November. That figure is down $4 million from October, as all three operators saw a decline in GGR in last month.
The state taxes the resort casinos 25% of GGR and PPC at a rate of 49%. MGM Springfield paid $5,508,443.59 in taxes for November. Overall, the tax revenue from the three casinos was approximately $25.9 million in November, down nearly $1.35 million from October.
MGM Springfield 2022 GGR And Taxes
The table below breaks down the GGR at MGM Springfield for each month of 2022, through November.
|Month||Slot GGR||Table GGR||Total Slot and Table GGR||Total (25%) in collected state taxes|
MGM Springfield Approved For Retail And Online Sports Betting
Earlier this month, MGC members unanimously granted MGM Springfield a retail sports betting license, as well as a mobile betting license for BetMGM, an operator owned by the casino’s corporate parent MGM Resorts.
Sports fans in the Commonwealth will be able to place in-person and online wagers via MGM Springfield in 2023, with retail betting expected to launch in late January. Online betting is expected to become available in March.
The casino has been preparing to open its retail sportsbook in 2022 and will offer customers two state-of-the-art lounges plus a sports wagering area in its TAP Sports Bar.