States Share Of Casino Revenues Hits Record In July – WBUR

The two resort casinos and lone slots parlor in Massachusetts raked in $95.74 million in gaming revenue last month, generating a record $27 million in taxes and fees for the state in the process.

Encore Boston Harbor led the way in July with a record-high $59.07 million in gaming revenue, the Mass. Gaming CommissionannouncedMonday. The Everett casino's slots brought in $34 million last month from $402.82 million in wagers while its table games generated just more than $25 million. One quarter of Encore's monthly gaming revenue is due to the state as tax, working out to about $14.77 million for state coffers.

In terms of revenue, MGM Springfield had its best month since before Encore opened in June 2019. The Springfield casino counted $23.71 million in gaming revenue in July slots produced $18.95 million in revenue from $219.4 million wagered and table games generated about $4.76 million in revenue. MGM Springfield also pays a 25% state tax on gross gaming revenue, about a $5.93 million levy last month.

At Plainridge Park Casino in Plainville, July was similarly the best revenue month since the opening of Encore. The slot machines there took in $185.68 million last month and kept $12.95 million as revenue, a payout percentage of 93.02%. Plainridge Park's revenue, taxed at a rate of 49%, generated more than $6.34 million in taxes and fees for state government.

Since legalizing gambling in 2011, Massachusetts has collected more than $842.66 million in gaming revenues about $438.4 million from Plainridge Park, about $158.16 million from MGM and about $246.1 million from Encore Boston Harbor. Based on historic monthly averages, Massachusetts can expect almost $259.5 million in average annual gaming revenue.

View post:

States Share Of Casino Revenues Hits Record In July - WBUR