News

Massachusetts Casinos Had A Rough November

It was anything but a jackpot for Massachusetts’ burgeoning casino gaming industry last month.

All three Bay State casinos posted either their worst or second-worst revenue numbers since opening their doors to gamblers.

Encore Boston Harbor, the state’s largest casino, had its second-worst month for gaming revenue, according to Massachusetts Gaming Commission data. The $47.3M gross gaming revenue beat out only October’s $45.8M revenue figure in monthly performance since the casino opened in late June.

The Everett casino continues to see a bigger share of its revenue come from table games over slot machines. The Wynn Resorts-owned property garnered $24.5M from table games and nearly $23M from slots.

MGM Springfield also posted its second-worst month for gaming revenue. The Western Massachusetts casino earned $19.9M in gross gaming revenue. Only January’s $19.7M revenue was worse since MGM opened in August 2018.

Gaming revenue at Plainridge Park Casino, a Plainville slots parlor, came in at $10.98M — the first time revenue dipped below $11M since it opened in June 2015.

Encore Boston Harbor has earned nearly $260M in gross gaming revenue, significantly below the pace it needs to meet the $800M first-year revenue target Wynn executives predicted ahead of the casinos opening.

While the casinos are seeing slower revenue, Massachusetts is adding significantly to its coffers from its three gambling sites. The state has collected $502M in total tax revenue since the casinos first opened, according to the MGC.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Boston Property Owners Raise Alarms About Cost Of Electric-Building Push

Clarion Under Contract To Sell 18-Story Seaport Office Tower

How A New Financing Model Helps Spur More Mixed-Income Housing

Law Firm Relocating To South Station Tower: The Boston Deal Sheet

Hilton's Q2 Results Barely Beat Wall Street's Expectations

Boston Waterfront Property Planned For Hotel Project Put Up For Sale

BioMed Hands Boston Lab, Office Property To Lender

The World Cup Filled Stadiums. Hotel Rooms Were A Different Story

Blackstone's Industrial Arm Sells Revere Warehouse For $45M

Affordable Housing Developer Plans $63M Newton Project: The Boston Deal Sheet

Pharma Company Moving Headquarters From Suburbs To Downtown Boston