MGM Springfield Sees Slight Increase In Revenue From July
In its monthly revenue report for the state’s casinos, the Massachusetts Gaming Commission reported that gross gaming revenue (GGR) for MGM Springfield in August increased slightly from July 2022’s total. MGM Springfield generated nearly $22 million in gross gaming revenue in August compared to $21.5 million from the previous month. The exact increase was $475,109.
August Revenue Breakdown
The casino’s slots generated $17,518,085.09, while tables raked in $4,474,746.40 during the month of August. Last year in August, the casino’s GGR was approximately $21.8 million, not much of a difference compared to 2022.
In 2020, MGM Springfield shut down for three months (April to June) due to the Covid-19 pandemic. For the August after the shutdown, the casino’s GGR was approximately $18.5 million.
Overall, the state’s three casinos, which include the resort-style Encore Boston Harbor and the slots-only Plainridge Park Casino, took in approximately $92 million in GGR.
The state taxes the resort casinos 25% of GGR. PPC’s tax rate is higher at 49% of its GGR. MGM Springfield paid $5,498,207.87 in taxes. Overall, the tax revenue from the three casinos was approximately $25.8 million in August.
MGM Springfield 2022 GGR And Taxes To Date
The table below breaks down the GGR at MGM Springfield for each month of 2022 so far.
|Month||Slot GGR||Table GGR||Total Slot and Table GGR||Total (25%) in collected state taxes|
Related news: Esports Betting On The Horizon In Massachusetts
Sports Betting On The Way
Sports betting in Massachusetts is expected to be very popular once the industry launches in the state. Many of the top sportsbooks in the country are expected to make their way to the Bay State in the coming months. Right now, the hope is that sports betting is rolled out in the state before the end of 2022.
MGM Springfield is preparing for sports betting action. The facility has two state-of-the-art lounges ready to welcome sports betting customers. The larger sports lounge closely resembles those in Las Vegas casinos. The design includes 70 theater-style seats and a huge wall of high-definition monitors for watching live sports. In addition, the lounge will have an island bar.
Located on the main casino floor, MGM Springfield’s TAP Sports Bar will also have a sports wagering area.