MGC Releases February 2023 Casino and Sports Wagering Revenue
- March 15, 2023
- by MGC Communications
- 0 comments
The Massachusetts Gaming Commission reported today that the month of February 2023 at Plainridge Park Casino (PPC), MGM Springfield (MGM) and Encore Boston Harbor (EBH) generated approximately $98 million in Gross Gaming Revenue (GGR).
Additionally, February marked the first full month of sports wagering at each property after those licensee’s launched the new industry on January 31, 2023. Approximately $2.01 million in taxable sports wagering revenue (TSWR) was generated at EBH, MGM and PPC for the month of February.
Gross Gaming Revenue (casino gaming)
PPC, a category 2 slots facility, is taxed on 49% of GGR. Of that total taxed amount, 82% is paid to Local Aid and 18% is allotted to the Race Horse Development Fund. MGM Springfield and Encore Boston Harbor, category 1 resort-casinos, are taxed on 25% of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.
To date, the Commonwealth has collected approximately $1.344 billion in total taxes and assessments from the casino operations of PPC, MGM and Encore since the respective openings of each gaming facility.
View comprehensive revenue reports for each gaming licensee here. MGC issues monthly revenue reports on the 15th of each month or next business day.
Sports Wagering Revenue
EBH, MGM, and PPC are licensed as Category 1 Sports Wagering Operators, which allows them to operate a retail sports book at their respective property. Category 1 operators are taxed on 15% of TSWR. Of that total taxed amount, 45% is allotted to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Local Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.
To date, the Commonwealth has collected approximately $311,395 in total taxes and assessments from the sports wagering operations of EBH, MGM and PPC since sports wagering began on January 31, 2022.
View comprehensive revenue reports for each sports wagering operator here.
