In March, the state of Massachusetts saw its best month yet, since the COVID-19 pandemic first started. Revenues were up considerably and seem to show that the industry is on the mend. Casinos and slot parlors saw revenue increases last month, with April providing the largest tax payment to the state cine early 2020. All of the operating gaming venues reported an increase, and operators are hopeful that this trend will continue.
April Revenue Totals
Plainridge Park, Encore Boston Harbor, and MGM Springfield were able to generate just over $84 million for the month. This was over $670,000 from the previous month. Over $24 million in taxes were paid and the state’s share was considerably higher than it has been for more than one year.
For players at Plainridge Park, more than $169 million was wagered on the slot games. This was more than has been spent since mid-2019. The property was able to earn $12.52 million from that amount. Over $6 million in taxes were paid.
For Encore Boston Harbor, the property continues to be the dominating one of the three. It generated over 50% of the state’s gross gaming revenues. In April, over $50 million was earned, with $29 million coming from slots and over $21 million from table games. Players at the venue wagered over $336 million.
For MGM Springfield, the property reported over $21 million for the month. Slots contributed over $17 million and table games brought in over $4.2 million. MGM provided the state with over $21 million in tax payments.
Working on A Full Reopen
The gaming venues in Massachusetts have been operational since July based on rules set forth by the Gaming Commission. No more than 40% of patrons are allowed in each venue based on capacity levels. Masks must be worked and there is a limit on which games can be provided.
The governor of the state has a plan to lift the business restrictions that remain by May 29. However, the Gaming Commission has control over what will happen via license holders. In early May, the Commission reported that it was looking to prepare recommendations for casinos as regulations are lifted.
The Commission is expected to meet on May 20, so we may see new recommendations by the end of the week. It is unclear as to whether or not the Commission will allow the casinos to open at a higher percentage or even at 100% capacity.
Despite the restrictions, it seems that players are back in full force. The betting totals are up consistently over the past few months and this means a higher win amount for the operators. As more vaccinations are provided for the COVID-19 pandemic, more people seem to be willing to travel and enjoy entertainment like they did before.
It is expected that the revenue totals will continue to increase as we go into the summer months. Players will be ready to take vacations and weekend getaways, more comfortable to visit casinos than ever before. We will compare the new revenue reports as they are made available to see what happens next.
