Representatives from the Bay State’s three casinos shared gaming revenue reports for the first three months of 2024 during a June 6 meeting of the Massachusetts Gaming Commission.
Plainridge Park in Plainville and Encore Boston Harbor in Everett both reported higher Q1 revenue this year from slots and table games than any quarter in 2023. MGM Springfield’s Q1 gaming revenue was down slightly compared to Q1 2023 revenue, but still higher than Q3 and Q4 of last year.
Combined, the three Massachusetts casinos reported $305.1 million in gross gaming revenue in the first three months of 2024. That’s a 1.9% increase over total revenue in Q1 2023.
Plainridge Park casino Q1 revenue rises 5.2% year-over-year
Plainridge Park saw the biggest year-over-year increase, with 2024 Q1 revenue up 5.2% over the same period last year. The casino, part of Plainridge Park’s horse-racetrack complex, only features slot machines, with no table games offered.
Plainridge Park total gaming revenue (slots):
- Q1 2024: $40,478,391
- Q1 2023: $38,463,638
Plainridge Park paid $19.8 million in taxes on gambling revenue in Q1, which includes horse racing taxes.
Encore Boston Harbor revenue numbers also up
Encore Boston Harbor also saw a slight surge in Q1 revenue this year. In all, numbers rose 2.6% over last year.
Encore Boston Harbor total gaming revenue (slots and tables):
- Q1 2024: $195,772,084
- Q1 2023: $190,774,073
The casino paid $48.9 million in taxes from gaming revenue in Q1.
MGM Springfield year-over-year Q1 revenue dips slightly
Q1 revenue at MGM Springfield this year was down 1.8% compared to the first three months of 2023.
MGM Springfield total gaming revenue (slots and tables):
- Q1 2024: $68,933,186
- Q1 2023: $70,190,878
MGM Springfield’s Q1 revenue resulted in $17.2 million in taxes paid to the state.
Encore Q1 sports betting revenue down 25% year-over-year
This was the first year where the Q1 revenue report included three full months of revenue from on-site sports betting at Massachusetts’ three casinos.
The casinos opened their retail sportsbooks on Jan. 31, 2023, so last year’s Q1 casino sports wagering reports were based on revenue from a little over two months of operation. Massachusetts mobile sports betting didn’t launch until March 10, 2023, so retail sportsbooks were the only game in town for about five weeks in Q1 last year.
As a result, MGM Springfield and Plainridge Park reported slightly higher retail sports wagering revenue in Q1 this year. But Encore Boston Harbor’s sports wagering revenue actually decreased 25.6% compared to last year’s first quarter.
Encore Boston Harbor retail sports betting revenue:
- Q1 2024: $1,216,827
- Q1 2023: $1,529,287
Plainridge Park retail sports betting revenue:
- Q1 2024: $1.02 million
- Q1 2023: $972,644
MGM Springfield retail sports betting revenue:
- Q1 2024: $461,610
- Q1 2023: $445,994
DraftKings top online Massachusetts sportsbook in Q1
Representatives from the six online Massachusetts sports betting operators presented their Q1 2024 sports betting report during an MGC meeting on June 3. DraftKings, FanDuel, Caesars Sportsbook and BetMGM were among the first batch of mobile sportsbooks to launch in the state last March, so their Q1 2023 reports were based on just three weeks of betting. Fanatics Sportsbook didn’t go live until mid-May last year and ESPN Bet launched in November.
In the first three months of 2024, Boston-based DraftKings remained the clear mobile sports betting leader in Massachusetts with $91.8 million in revenue, followed by FanDuel with $54.3 million. As has been the case in the market since launch day, no other operator came close to challenging the Top 2 revenue leaders in the first three months of this year.
Here are the total 2024 Q1 revenues for Massachusetts sportsbooks:
- DraftKings: $91,855,541
- FanDuel: $54,351,010
- BetMGM: $10,127,132
- ESPN Bet: $6,585,180
- Fanatics Sportsbook: $3,148,459
- Caesars Sportsbook: $3,129,923
