The Massachusetts Gaming Commission recently released its 2023 Annual Report, which provides an updated state of affairs within the Commonwealth. It addresses Fiscal Year 2023, from July 1, 2022, through June 30, 2023.
2023 Annual Report announces Massachusetts gaming tax revenue of nearly $375 million
Highlights from the report included the following from Massachusetts casinos, racinos and sportsbooks:
- $1.2 billion in gross gaming revenue (GGR)
- $330.7 million in gaming tax revenue
- $228.7 million in Massachusetts sports betting adjusted gross revenue (AGR)
- $44.1 million in sports wagering tax revenue
Combined gaming revenue totaled more than $1.42 billion, with $374.8 million in state tax revenue.
Another $252 million was wagered in horse race betting during 108 days of live racing, which created another $18.6 million in Race Horse Development Fund distributions.
Massachusetts gambling sees positive growth in 2023
Gross gaming revenue grew from $1.1 billion in FY 2022, and gaming taxes grew from $311.5 million (+6.2%).
Add in millions more of new sports betting revenue, and FY 2023 was a massive win for the Commonwealth.
And sports betting was only a preview of what’s to come in FY 2024 for Massachusetts online gambling. Retail sports betting went live on January 31, 2023, and online wagering followed on March 10. The 2023 report contained several months of data.
FY 2024’s report will include data on 12 months of sports betting revenue, where anything less than $100 million in sports wagering tax revenue would be disappointing for the state.
Horse racing will hope to reverse a trend in FY 2024, though. The 2023 report showed a 4.6% decline in wagers ($264 million) from 110 race days. Distributions to the Race Horse Development Fund still grew by $1 million (5.7%) YoY.
Responsible gaming efforts also grow in FY 2023
Gambling options grew in the Commonwealth in 2023. So did Massachusetts responsible gambling efforts.
State programs, including the Voluntary Self-Exclusion (VSE) program and PlayMyWay, saw increased participation due to those efforts. PlayMyWay allows players to set gambling budgets, track their play and receive notifications about their wagering progress.
FY 2023 stats:
- 1,430 individuals enrolled in Gaming VSE (+24.3% YoY)
- 130 enrolled in Sports Wagering VSE (New program)
- 42,616 enrolled in PlayMyWay (+37.3% YoY)
Additionally, the MGC supported six gambling-related research programs released in FY 2023. The commission has funded more than 60 reports since 2014.
The MGC’s Investigations and Enforcement Bureau (IEB) intercepted another $3.6 million in gambling funds from people with unpaid taxes and child support payments. IEB redistributed those funds to the Department of Revenue.
More about the MGC 2023 Annual Report
The 2023 Annual Report covers numerous topics, including:
- Financial updates
- Recommendations for legislative action
- Results on licensee workforce and supplier diversity goals
- Casino property and project summaries
- Division Reports
- Details about legalized sports wagering
Sports betting made it into the report for the first time in 2023 after launching in the second half of the fiscal year. Interim Commission Chair Jordan Maynard said in a press release:
“The work to regulate and oversee the casino, horse racing, and sports wagering industries in the Commonwealth takes a dedicated team committed to ensuring those industries prioritize consumers and focus on responsible gaming. The Massachusetts Gaming Commission is pleased to present this report, which details our commitment to transparent policy making, nation-leading research, and industry standard innovations.”
