MGM Springfield Revenues Up In August, But 1st Year Lags Behind Projections | Connecticut Public Radio

MGM Springfield Revenues Up In August, But 1st Year Lags Behind Projections

Sep 17, 2019
Originally published on September 18, 2019 1:11 pm

Gambling revenue at MGM Springfield was up 2.7% in August from the previous month. That's according to figures released by the Massachusetts Gaming Commission Monday. But after completing its first year in business, the casino has fallen well below projections.

When applying for their license, MGM Springfield officials predicted revenues in year one would be $412 million. But, through 53 weeks of operation, they were about $140 million short of that goal.

As for August, table game play rebounded from the month before, up about 8 percent from July, but that's still among the lowest during MGM's first year. The three worst months in that category have come since the Encore Boston Harbor casino opened this summer.

In a statement, MGM Springfield head Mike Mathis said he's pleased with how the resort continues to be received in the market. 

"As our second year of operation begins, we look forward to the opportunities ahead reaffirming our commitment to the community and Commonwealth through a robust calendar of events, exciting concerts, eclectic dining, dynamic casino promotions and world-class guest services synonymous with MGM Resorts," Mathis said.

Since opening last August, the state has received $68.4 million in gambling taxes from MGM.

Encore Boston Harbor, the other full casino in Massachusetts, took in $52.48 million from gambling in August, its second full month in business. That's a 7 percent increase from July and it comes despite nearly $1 million less in slot play from the prior month. 

Massachusetts has collected a cumulative $435 million in taxes and assessments from the three gaming facilities that have opened under the 2011 expanded gaming law, according to the gaming commission.

This reports includes information from State House News Service.

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