August was a successful month for Massachusetts casinos. The Bay State’s three casinos generated $103.3 million in August revenue, their third nine-figure month and second-best in 2024. The numbers represented 12.3% monthly growth when casinos fell just short of that mark with $99.5 million and 12.9% growth from $97.9 million in August 2023.
As a result, the state collected $29.3 million in taxes. August’s tax bill was 3.6% higher than July’s ($28.3 million) and 6.3% higher than August 2023 ($27.6 million).
Massachusetts casinos go three-for-three in August for monthly & yearly growth
Massachusetts legalized casino gambling in 2011 as a result of the Expanded Gaming Act. Its first casino opened in 2015, Plainridge Park Casino, and two have followed. Residents may also play at sweepstakes casinos and online sportsbooks, but Massachusetts online casinos remain illegal.
Plainridge Park remains the only Category 2 slots parlor in the state. The other two venues, Encore Boston Harbor and MGM Springfield, operate as Category 1 resort-casinos and offer slot machines and table games.
All three saw increases in August’s revenue compared to the previous month and year.
Encore Boston Harbor, the largest of the three, generated $64.9 million in revenue. This was a 5.6% improvement from July ($61.5 million) and 5.9% better than August 2023 ($61.3 million).
MGM Springfield reported $23.7 million in August revenue, barely more than last month ($23.6 million; +0.4%) and last year ($23.5 million; +0.6%).
Plainridge Park accounted for the final $14.7 million in revenue. It had 2% gains compared to July casino revenue ($14.4 million) and showed double-digit improvement from a year ago ($13.1 million; +12.4%).
Massachusetts table games fuel growth, while slots generate more taxes
August’s growth came nearly entirely from table game winnings, which accounted for $34.3 million of the state’s gross gaming revenue.
Encore Boston Harbor had the lion’s share of that category, its $29 million representing 12.4% monthly and 14.3% yearly growth. MGM Springfield’s $5.3 million was up 11.9% monthly but only 5.6% yearly.
Slot revenue was more than double table games, just under $69 million. All three casinos had eight-figure slot revenue totals, but only one showed gains in the monthly and yearly categories.
- Encore Boston Harbor: $35.9 million (+0.6% monthly; -0.1% yearly)
- MGM Springfield: $18.3 million (-2.5% monthly; -0.7% yearly)
- Plainridge Park Casino: $14.7 million (+2% monthly; +12.4% yearly)
Slots contributed to a higher portion of August’s tax bill, not just because they comprised two-thirds of the state’s gaming revenue. Category 1 facilities (Encore and MGM) pay a 25% tax on their gross gaming revenue, while Category 2 (Plainridge Park) pays 49 on its revenue.
As a result, Plainridge Park paid the state more in taxes than MGM Springfield despite making less money. Individual casino tax bills were as follows:
- Encore Boston Harbor: $16.2 million
- Plainridge Park Casino: $7.2 million
- MGM Springfield: $5.9 million
Annual Massachusetts casino revenue & taxes are up — but barely
A nine-figure August casino revenue was unseasonably high and undoubtedly welcomed by casinos and the state. The Commonwealth’s casinos have reported $799.5 million through the first eight months of the year.
Additionally, August’s $5.4 million yearly boost pushed Massachusetts casinos into the black for the year, around $3 million greater (0.4%) than their $796.5 million through August 2023.
Taxes are also up slightly. The year’s casino tax bill totals $226.7 million, a $2.5 million (1.1%) improvement from $224.2 million to date in 2023.
Another outlier in either direction could make or break the year for Massachusetts casinos. If none comes, casinos will need to keep pace with 2023 revenues to show a slight improvement.
- September 2023: $93.8 million
- October 2023: $96.7 million
- November 2023: $94.5 million
- December 2023: $103 million
- Total (September – December): $388 million
- Total (Calendar Year 2023): $1.18 billion
Of course, such small growth potential suggests that Massachusetts casinos have hit a plateau (or their ceiling). That said, a billion-plus-dollar three-casino industry is still hugely successful.
