Massachusetts casinos report $82M in GGR for January amid nationwide record

The Massachusetts Gaming Commission reported Tuesday the financial results for the month of January 2022 at MGM Springfield, Plainridge Park Casino and Encore Boston Harbor, which amounted to a total of approximately $82 million in gross gaming revenue.

Encore Boston Harbor saw the most gross gaming revenue with a total of $53.9 million, derived from $26 million in table games and $27.8 million in slots. On Tuesday, Las Vegas-based Wynn Resorts said it is set to sell the real estate of its Encore Boston Harbor resort and casino in Everett for $1.7 billion through a sale-leaseback transaction. The announcement came the same day the operator reported 53.5% operating revenue growth to $1.05 billion for the fourth quarter of 2021. MGM Springfield reported $18.6 million in gross gaming revenue last month, a figure consistent with seasonal trends. Table games generated $4.2 million and slots saw $14.3 million. Taxes amounted to $4.6 million. 

Plainridge Park Casino followed with a total of $9.8 million, which came directly from slots revenue. A category 2 slots facility, is taxed on 49% of gross gaming revenue. 

To date, the Commonwealth has collected approximately $994 million in total taxes and assessments from Plainridge Park Casino, MGM and Encore since the respective openings of each gaming facility.  

Furthermore, the American Gaming Association (AGA) also released figures on Tuesday showing that U.S. commercial gambling revenue reached an all-time record $52.99 billion in 2021. 

The nation-wide growth was more than 21% percent higher than the previous annual record, set in 2019, and nearly 77% higher than 2020, when COVID-19 forced the industry into months-long shutdowns across the country.

Q4 gaming revenue was $14.31 billion, growing by 30% compared to the same period in 2019 and surpassing the previous quarterly record (Q3 2021) by 2.7%.

Massachusetts saw $1.02 billion in commercial gambling revenue in 2021, which is 84.9% higher than 2020’s numbers, and represents a 42.1% rise compared to 2019.

The three Massachusetts casinos have recently urged state officials to allow betting on sports, claiming the current prohibition puts them at a competitive disadvantage with venues in neighboring states. 

Massachusetts Gaming Commission’s chief administrative officer and special projects manager, Crystal Howard, said the commission is “monitoring for any action on sports betting”, according to the State House News Service. During the Super Bowl LVI last Sunday, Governor Charlie Baker supported sports betting legalization in the state.