MGM Springfield gambling revenue hits $23 million

Mass Live
 
MGM Springfield gambling revenue hits $23 million
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SPRINGFIELD — MGM Springfield pulled in $22.9 million in total gambling revenue from its slots, table games in October, according to figures released Tuesday by the Massachusetts Gaming Commission.

That’s the highest monthly total since $24.2 million in March 2022. Pre-pandemic in October 2019, the total gambling revenue was $21 million.

Gaming revenue tends to be seasonal.

Earlier this month, MGM reported to the Gaming Commission that it employs up to 1,320 individuals and there are open positions available. That’s compared with about 1,200 at the beginning of 2022.

The casino promised to create 3,000 jobs here before its 2018 opening.

Back then, MGM also told the Gaming Commission it expected $418 million in annual gross gaming revenues in its first year, or an average of $34.8 million per month. It has never hit that $34.8 million goal.

The Gaming Commission reported in the month of October, Plainridge Park Casino, MGM Springfield and Encore Boston Harbor generated a total of approximately $97 million in gross gambling revenue.

To date, the commonwealth has collected approximately $1.24 billion in total taxes and assessments from the three gaming facilities since their respective openings.

MGM and Encore are taxed at a 25% rate. The slots-only Plainridge Park is taxed on 49% of gross gambling revenue.

Encore, which opened in 2019, reported $62 million in gross gambling revenue for October and Plainridge reported $12.3 million in gross gambling revenue for October.

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#Massachusetts regulator accepts MGM Springfield’s late sports betting application MGM Springfield paid its fee on time but submitted its application after the deadline.

#Massachusetts regulator accepts MGM Springfield’s late sports betting application

MGM Springfield paid its fee on time but submitted its application after the deadline.
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The state’s most successful casino was @MGMSpringfield, which brought in $22.9 million from its slots and table game operations. 👏

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