Operator News
US – Massachusetts casinos bring in over $100m in June 2023
By Phil - 19 July 2023
The Massachusetts Gaming Commission reported that the month of June 2023 at Plainridge Park Casino (PPC), MGM Springfield (MGM) and Encore Boston Harbor (EBH) generated approximately $101 million in Gross Gaming Revenue (GGR).
Additionally, approximately $32.21m in Taxable Sports Wagering Revenue (TSWR) was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of June.
Plainridge Park Casino, a Category 2 slots facility, is taxed on 49 per cent of GGR. Of that total taxed amount, 82 per cent is paid to Local Aid and 18 per cent is allotted to the Race Horse Development Fund. MGM Springfield and Encore Boston Harbor, Category 1 resort-casinos, are taxed on 25 per cent of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.
To date, the Commonwealth has collected approximately $1.459bn in total taxes and assessments from the casino operations of Plainridge Park Casino, MGM Springfield and Encore Boston Harbor since the respective openings of each gaming facility.
Encore Boston Harbor, MGM Springfield, and Plainridge Park Casino are licensed as Category 1 Sports Wagering Operators, which allows them to operate a retail sportsbook at their respective property. Category 1 operators are taxed on 15 per cent of Taxable Sports Wagering Revenue.
Barstool Sportsbook, BetMGM, Betr, Caesars Sportsbook, DraftKings, Fanatics Betting & Gaming, FanDuel, and WynnBet are licensed as Category 3 Sports Wagering Operators, which allows them to operate a mobile or online sportsbook. Category 3 operators are taxed on 20 per cent of Taxable Sports Wagering Revenue.
Of the total taxed amount for all operators, 45 per cent is allotted to the General Fund, 17.5 per cent to the Workforce Investment Trust Fund, 27.5 per cent to the Gaming Local Aid Fund, one per cent to the Youth Development and Achievement Fund, and nine per cent to the Public Health Trust Fund.
To date, the Commonwealth has collected approximately $40m in total taxes and assessments from the sports wagering operations of licensed operators since sports wagering began in person on 31 January 2023 and online on 10 March 2023.
When an operator’s adjusted gross sports wagering receipts for a month is a negative number because the winnings paid to wagerers and excise taxes paid pursuant to federal law exceed the operator’s total gross receipts from sports wagering, the Sports Wagering Law allows the operator to carry over the negative amount in tax liability to returns filed for subsequent months.
