Slot revenues rise, but fall on per-machine basis
Drop is 21.6% at Encore; 23% at MGM
OVERALL GAMING revenue numbers for the most part were up in February over the previous month, but there was a surprising decrease in daily per machine revenues.
In February, Encore Boston Harbor took in nearly $24 million in slot revenues, an increase of almost $4.3 million over the previous month’s numbers. However, the revenue per machine per day dropped 21.6 percent.
The decrease in revenues per machine was not entirely unexpected. Encore Boston Harbor was only open on a 24-hour basis for the first 6 days of January. For the balance of the month, Encore was only open for 12 hours per day, which translates into 18 full “gaming days” during the month of January. When we calculate the monthly per machine per day revenue, we get a figure of $599.45 per machine per day because of the reduced number of gaming days. For the month of February, even though slot revenues were up for the month, each slot machine only earned $469.92 per day, which is a a 21.6 percent drop in daily revenue per machine.Similarly, MGM Springfield saw total monthly slot revenue rise by over $1.2 million in February. However, slot revenues dropped from $564.59 per machine per day in January to $434.32 per machine per day in February, a 23 percent decrease.
Paul DeBole is an assistant professor of political science at Laselle University in Newton.