MGM Springfield’s casino revenue numbers from September were released by state regulators Monday, but they’re incomplete.
Thanks to the cyberattack that struck the company last month, MGM Springfield reported $17.4 million in gross gaming revenue. That number accounts for slot machines and table games.
Cyberattack ‘is the reason’ MGM Springfield data is incomplete
Massachusetts Gaming Commission Communications Division Chief Thomas Mills confirmed to PlayMA that the cyberattack “is the reason for the issue.” Mills also said that these figures would be ironed out and confirmed when October’s numbers were released next month.
The MGC released September revenue reports for Massachusetts casinos on Monday. The totals were a small year-over-year decline from September 2022, but that stems mostly from MGM’s artificially low revenue numbers.
However, gross gaming revenue would go through the roof if Massachusetts online casinos were legalized.
MGM Springfield’s revenue lowest since the COVID-19 pandemic
The last time MGM Springfield produced a revenue total this low was in February 2021. At that time, COVID-19 precautions were in place. Casino-goers — as well as essentially all of America — remained hesitant on what would happen next during a time of uncertainty.
Looking at September’s numbers, customers accounted for $16,358,781.29 in slot machine revenue at MGM Springfield. Table game revenue came out to $1,084,292.50 for the month.
For reference, slot machine revenue totaled $18,470,471 in August at the casino. MGM Springfield saw $5,054,828.32 in table game revenue that month, too.
What does typical September casino revenue look like in Massachusetts?
Ironically, MGM Springfield’s September gross gaming revenue from slot machines was similar last year. September 2022 accounted for $16,358,042.03 in revenue from slots — a $739.26 difference year-over-year.
Table game revenue for September 2022 was nearly $800,000 less than 2023’s mark. That month, MGM Springfield’s table game revenue came out to $4,213,605.83.
What will MGM Springfield’s September revenue come out to?
Again, we won’t know for sure until next month, when October’s figures are final. By then, the MGC will have the data we didn’t have this week.
But in the meantime, let’s do a bit of speculation.
It’s not out of this world to think MGM Springfield’s September 2023’s revenue will be higher than September 2022 based off the national trend of increased gambling. August 2023 was about $1.53 million more than the same month in 2022. July was up roughly $2 million year over year.
Let’s be conservative and say that September would have a $1.75 million increase from 2022 to 2023. That number is in between both July and August’s gains.
That would put September 2023’s total revenue around the $22.32 million mark, which is about $4.9 million more than what the MGC released Monday.
Obviously, the number could be lower. The cyberattack was a horrible look on the industry as a whole, but specifically MGM and Caesars. And in the casino and entertainment business, brand recognition is key.
“It’s a real black eye for any organization, but especially casinos,” cybersecurity expert John Young told PlayMA last month. “A lot of it is reputation. That’s your game.”
How MGM factors into Massachusetts’ figures
Based on monthly figures, MGM Springfield is Massachusetts residents’ second-favorite spot to gamble.
Take into account that MGM Springfield’s numbers won’t stand as they are based on incomplete data. But that still won’t make up Encore Boston Harbor‘s lead.
Encore Boston Harbor produced $59,820,850 in table and slot machine revenue last month. Its table game figures dominated MGM Springfield’s, clocking in at $26,390,983.12. Encore Boston Harbor essentially doubled MGM Springfield’s slot revenue, too, boasting a total of $33,429,867.35.
Those numbers are on par historically.
Looking at 2022 as a whole, MGM Springfield accounted for $259,137,459.23 in MA casino revenue, or about 22.89% of the state’s total.
Encore Boston Harbor, on the other hand, notched 64.47% ($729,724,772.54) of Massachusetts’ casino revenue for the calendar year.
Massachusetts casinos generated $90 million in revenue last month
According to the MGC’s report, PlainridgePark, MGM Springfield and Encore Boston Harbor combined to generate $90.39 million in gross gaming revenue in September.
The result? Massachusetts saw $25,747,585.73 in taxes last month.
Based off the numbers was have now for September, slot and table game revenue was down just more than $7.5 million month to month. September taxes came out roughly $2 million less than the prior month, too.