After taking a dip in profits in September, MGM Springfield Casino saw an 11.3% increase in gross gaming revenue (GGR) for October. In its monthly revenue report, the Massachusetts Gaming Commission (MGC) announced that the casino’s GGR increased approximately $2.3 million.
Overall, the casino’s October GGR totaled nearly $22.9 million compared to about $20.6 million in September. The exact dollar amount of the increase was $2,327,138.21.
October Revenue Breakdown
MGM Springfield’s slots generated $17,980,905.48 in October, compared to $16,358,042 in September. In addition, the casino’s tables collected $4,917,880.59 in October compared to $4,213,605 in September.
The state’s three retail casinos, which include the resort-style Encore Boston Harbor and the slots-only Plainridge Park Casino (PPC), took in approximately $97 million in GGR. That figure is up $3 million from September due to increases in GGR by MGM Springfield and Encore Boston.
The state taxes the resort casinos 25% of GGR and PPC at a rate of 49%. MGM Springfield paid $5,724,696.52 in taxes for October. Overall, the tax revenue from the three casinos was approximately $27.3 million in October.
MGM Springfield 2022 GGR And Taxes To Date
The table below breaks down the GGR at MGM Springfield for each month of 2022 so far.
|Month||Slot GGR||Table GGR||Total Slot and Table GGR||Total (25%) in collected state taxes|
Massachusetts Sports Betting Coming in 2023
Sports betting is on its way to Massachusetts. As of November, sports betting is tentatively slated to launch in Massachusetts in early 2023. Specifically, the state plans to launch retail sports betting in late January so casinos can take bets in time for the Super Bowl on Feb. 12. Mobile betting apps are expected to follow in late February or early March in time for March Madness.
MGM Springfield is expected to offer a retail sportsbook once the industry launches. In addition, BetMGM Sportsbook is expected to launch its online sportsbook in early Spring at a date to be determined by the MGC.
All in all, sports fans in Massachusetts have a lot to look forward to.