The Massachusetts Gaming Commission (MGC) released its first full official monthly retail Massachusetts sports betting report on Wednesday.
All three casinos in the state - MGM Springfield (BetMGM Massachusetts Sportsbook), Plainridge Park Casino (Barstool Sportsbook), and Encore Boston Harbor (WynnBET) in Everett - launched their brick-and-mortar locations as Category 1 sports wagering operators on Jan. 31.
Breaking Down the Numbers
Here is the breakdown:
Total February sports betting handle for the three sportsbooks generated about $24.98 million. It was $510,948 for the Commission's one-day only report in January.
Encore Boston Harbor led the way with more than $17.27 million, followed by Plainridge Park Casino at $5.91 million with MGM Springfield rounding out the top three with nearly $1.8 million.
State sports betting revenue for the month totaled more than $2.01 million. It was minus-$7,596 for Jan. 31. Sports betting taxes collected by the state: $301,534, as opposed to $9,861 for Jan. 31.
Category 1 operators are taxed at 15%. Of that total taxed amount, 45% is allotted to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Local Aid Fund, 9% to the Public Health Trust Fund and 1% to the Youth Development and Achievement Fund.
Taxable Revenue by Facility for February - Encore Boston Harbor: $857,602; Plainridge Park Casino: $890,555; MGM Springfield: $262,066.
Taxes by Facility - PPC: $133,583; EBH: $128,640; MGM Springfield: $39,310.
Six Massachusetts sports betting apps launched in the Commonwealth on March 10 and should be part of the next report in mid-April.
Casino Gross Gaming Handle, Revenue
In February, all three casinos combined to generate more than $769.48 million in casino gaming handle, down 2.5% from January's $789.08 million. It marks the second consecutive month of a total decrease among the three.
The breakdown: EBH: $397,442,408, MGM Springfield: $202,389,050 and PPC $169,657,183.
Gross Gaming Revenue (GGR) for the state was more than $98 million, a slight increase of 1.2% from January's $96.87 million.
EBH led the way with $62.7 million, followed by MGM Springfield at $23.26 million and PPC at $12.04 million.
PPC, a Category 2 slots facility, is taxed on 49% of GGR. Of that total taxed amount, 82% is paid to Local Aid and 18% is allotted to the Race Horse Development Fund.
MGM Springfield and EBH (Category 1 resort-casinos) are taxed on 25% of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.
To date, the Commonwealth has collected approximately $1.344 billion in total taxes and assessments from the casino operations of PPC, MGM and Encore since the respective openings of each gaming facility.
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