Casinos end year with a bang

3 facilities report nearly $100m in revenue for December

STATE HOUSE NEWS SERVICE

GAMING REVENUES were up across the board last month as Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor together generated nearly $100 million in revenue of which about $26.5 million is due to the state, the Gaming Commission reported Tuesday.

Of the $95.65 million in gaming revenue produced in December, Encore Boston Harbor was responsible for having pulled in $62.4 million or just about two-thirds of the statewide total. December now ranks as the second-best month in terms of revenue for the Everett casino that opened in June 2019, trailing only October 2021’s $62.8 million haul.

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At MGM Springfield, the $22.2 million generated in gaming revenue last month represented the highest monthly total since July 2021 and made December the state’s first casino’s second-best month since March 2019. MGM’s table games, including the only legal poker tables in the state, generated $5.53 million in revenue last month, just the second time since the pandemic began that they produced more than $5 million in a month.

The slots parlor at Plainridge Park pulled in about $11.05 million in December, about 7.02 percent of the $157.3 million that gamblers put into the slot machines last month. With a historic average payout percentage of 92.16 percent, the slots at Plainridge Park are the most player-friendly in the state (Encore is second with a payout percentage of 91.88 percent and MGM’s slots are the stingiest with an average payout percentage of 91.56 percent).

The $95.65 million in monthly gaming revenue for December translates into about $26.56 million in tax and fee revenue for the state. Encore and MGM are each taxed at a rate of 25 percent of gross gaming revenue. That worked out to $15.6 million from Encore and $5.55 million from MGM last month. Plainridge Park pays a 49 percent tax on its gross gaming revenue, which in December worked out to $5.41 million for the state.