According to the latest monthly revenue report from the Massachusetts Gaming Commission, the state’s casinos and sports betting operators combined to generate $159.9 million in gross gaming revenue (GGR) throughout the month of May.
May’s figures represent a very slight drop of 0.25% when compared to April’s total of $160 million.
Casino revenue
Plainridge Park Casino, MGM Springfield and Encore Boston Harbor combined to generate $99 million in GGR throughout May. This was a drop of 1% compared to the $100 million reported in the previous month.
Encore Boston Harbor was the market leader in all categories reporting monthly GGR of $62.5 million, down by 2.1% month-by-month. This resulted in state taxes of $15.6 million or 56.3% of all casino gaming taxes for the month.
Meanwhile, MGM reported GGR of $23.3 million, a slight drop from the previous month. This resulted in $5.8 million in taxes. Plainridge reported $12.8 million from its slots only facility. This resulted in taxes of $6.2 million due to its tax rate of 49%.
Overall, the state collected $27.7 million in taxes from casino gaming and $238,230 from retail sports betting at the casinos. This brings the total collected from casinos during May to just under $28 million and means that the state has now collected over $1.431 billion in taxes from casinos alone since the industry launched.
Sports Wagering Revenue
According to the report the state’s retail and mobile sports betting operators combined to generate $60.9 million in taxable sports wagering revenue (TSWR) during May. This was an increase of 3.3% month-on-month.
During April the state’s three retail sportsbooks reported revenues as follows:
| Operator | Wagers | Taxable Revenue | Hold | Taxes |
|---|---|---|---|---|
| MGM Springfield | $1.9 million | -$28,380. | -1.22% | $0 |
| Encore Boston Harbor | $6.7 million | $1.3 million | 20.5% | $204,319 |
| Plainridge Park Casino | $2.7million | $226,079 | 8.44% | $33,911 |
| Total | $11.4 million | $1.5 million | 13.93% | $238,230.92 |
There were also eight licensed mobile sports betting operators active during the month as two new sportsbooks entered the market; Betr and Fanatics:
| Mobile Operator | Wagers | Taxable Revenue | Hold | Taxes |
|---|---|---|---|---|
| Barstool | $16 million | $1.8million | 11.42% | $356,994 |
| BetMGM | $34.9 million | $5.4 million | 15.68% | $1.07 million |
| Betr | $592,965 | $47,110 | 7.94% | $9,124 |
| Caesars | $19.02 million | $1.3 million | 7.28% | $267,488 |
| DraftKings | $221 million | $30.6 million | 13.85% | $6.01 million |
| Fanatics | $123,108 | $41,868 | 34.01% | $8,354 |
| FanDuel | $135.3 million | $20 million | 14.8% | $3.9 million |
| WynnBet | $16.4 million | $1 million | 6.4% | $201,942 |
| Total | $443.5 million | $60.5 million | 13.64% | $11.9 million |
Since the launch of mobile sports betting in Massachusetts during March, the state has now collected $32.9 million in taxes.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.