Massachusetts Casino Revenues Creeps Up 1.9% Year-on-Year in September
The Massachusetts Gaming Commission released a report on land-based casino revenue, revealing that the three gambling locations in MA collected nearly $92.1 million in combined gross gaming revenue (GGR). That total marked a slight 1.9% increase from September 2023 but a steep 10.9% decline from August 2024.
While September’s GGR total was the lowest in 2024, September 2023 was also the lowest GGR month of 2023, so it seems there is a yearly drop off in casino attendance during the month in Massachusetts.
MGM Springfield Strong Revenues Power Growth
Encore Boston Harbor is the most significant contributor to casino revenues in Massachusetts, accounting for more than 62% of total revenues in September 2024. The casino saw its revenues drop 3.6% year over year and 11.1% month over month.
However, overall state revenues didn’t drop year-on-year thanks to the significant growth from MGM Springfield. The casino collected nearly $21 million in revenues in September 2024, a massive 20% rise from the $17.4 million posted the year prior.
| Casino | September 2023 | September 2024 | Change |
|---|---|---|---|
| Encore Boston Harbor | $59,820,850.47 | $57,690,533.53 | -3.6% |
| MGM Springfield | $17,443,073.79 | $20,936,034.74 | +20.0% |
| Plainridge Park Casino | $13,125,723.80 | $13,439,152.67 | +2.4% |
| Total | $90,389,648.06 | $92,065,720.94 | +1.9% |
Plainridge Park Casino also contributed to the slight revenue increase compared to September 2023, growing revenues by 2.4% year-on-year. Plainridge Park Casino only provides slot games, unlike the other two casinos that contribute revenues.
Recovery in September Suggests Stronger Future
It’s been a tough year for Massachusetts land-based casinos, with revenues dropping year-on-year in several months, including May and June. These tough months have contributed to Wynn Resorts putting on hold its $400 million expansion plans to Encore Boston Harbor.
With September traditionally being a weaker month for the state, casinos showing growth will encourage future investments in these gambling locations, which could lead to higher revenues in the future, even if Encore Boston Harbor saw GGR slip.
High Plainridge Park Casino Revenues Lead to High Tax Contributions
Higher revenues leads to more tax for Massachusetts, with the state passing the $1 billion in taxes collected earlier in 2024. The Massachusetts Gaming Commission taxes casinos at different rates, with Encore Boston Harbor and MGM Springfield charged at 25%. Meanwhile, Plainridge Park Casino is taxed at 49%.
That’s why, despite Massachusetts casinos posting over $1 million less in revenues in September 2024 compared to January 2024 (the second-lowest GGR month of 2024), the state actually collected more taxes in the more recent month.
| Casino | September 2023 | September 2024 | Change |
|---|---|---|---|
| Encore Boston Harbor | $14,955,212.62 | $14,422,633.38 | -3.6% |
| MGM Springfield | $4,360,768.45 | $5,234,008.69 | +20.0% |
| Plainridge Park Casino | $6,431,604.66 | $6,585,184.81 | +2.4% |
| Total | $25,747,585.73 | $26,241,826.88 | +1.9% |
Of course, with GGR increasing year-on-year across the state, taxes also increased from September 2023 to September 2024. What changed was the percentage of taxes the casinos accounted for, with MGM Springfield providing nearly 20% of taxes in September 2024. In September 2023, that was just under 17%. Plainridge Park Casino accounted for 24.9% in September 2023 and 25% in September 2024.
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