CasinoCityTimes.com

Home
Gaming Strategy
Featured Stories
News
Newsletter
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News
SEARCH NEWS:
Search Our Archive of Gaming Articles 
 

Massachusetts Gaming Commission releases October 2023 casino and sports wagering revenue

16 November 2023

(PRESS RELEASE) -- The Massachusetts Gaming Commission reported today that the month of October 2023 at Plainridge Park Casino, MGM Springfield and Encore Boston Harbor generated approximately $96.67 million in Gross Gaming Revenue.

Additionally, approximately $59.18 million in taxable sports wagering revenue was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of October.

Gross Gaming Revenue (casino gaming)
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 Encore Boston Harbor, 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 $1.568 billion in total taxes and assessments from the casino operations of PPC, MGM and Encore since the respective openings of each gaming facility.

Sports Wagering Revenue
EBH, MGM, and PPC are licensed as Category 1 Sports Wagering Operators, which allows them to operate a retail sportsbook at their respective property. Category 1 operators are taxed on 15% of TSWR.

Barstool Sportsbook, BetMGM, Betr, Caesars Sportsbook, DraftKings Sportsbook, Fanatics Betting & Gaming, FanDuel, and WynnBET are licensed as Category 3 Sports Wagering Operators, which allows them to operate a mobile or online sportsbook. Category 3 operators are taxed on 20% of TWSR.

Of the total taxed amount for all operators, 45% is allotted to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Local Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.

To date, the Commonwealth has collected approximately $72.05 million in total taxes and assessments from the sports wagering operations of licensed operators since sports wagering began in person on 31 January 2023 and online on 10 March 2023.

When an operator’s adjusted gross sports wagering receipts for a month is a negative number because the winnings paid to wagerers and excise taxes paid pursuant to federal law exceed the operator’s total gross receipts from sports wagering, the Sports Wagering Law allows the operator to carry over the negative amount in tax liability to returns filed for subsequent months.

< Gaming News

Massachusetts Gaming Commission releases October 2023 casino and sports wagering revenue is republished from Online.CasinoCity.com.