As the final full month of summer 2023 transpired, casinos in Massachusetts made the best use of those 31 days in their history. Gaming revenue during August this year topped all previous Augusts in Massachusetts in that regard.
Sportsbooks played a part in that new August high, although their revenue from August left much for them to desire. At the same time, they could be in the throes of their best month-to-date right now.
August 2023 represents solid gains for Massachusetts casinos
For both of Massachusetts’ casinos and the Plainridge Park “racino” (racetrack that also offers slots), August 2023 was their best such month in any year to date. That applies to collective and individual senses.
Combined, their total was 5.7% higher than their revenue from August 2021, the previous August high. Each of the individual facilities posted their highest August totals in terms of revenue from slots as well. For Encore Boston Harbor and MGM Springfield, the month also brought August high revenue from table games.
According to the August revenue report by the Massachusetts Gaming Commission, taxes on that activity for the state accordingly reached a new high. Naturally, in-person sports wagering helped. Online sports betting was a larger contributor in that way despite a relative downturn.
Sports betting revenue hits six-month low
While casinos fared quite well during August, legal sportsbooks in Massachusetts were likely happy to see the month end. There are multiple reasons why the turning of the calendar to September was probably celebratory.
While the amount of money that Bay Staters gambled during August recovered by 6.4% compared to Massachusetts’ July revenue, sportsbooks fared worse in terms of actually keeping that money. Books won about 7.4% of the dollars bet, leading to the lowest amount of taxable revenue in Massachusetts since February.
For context, legal online gambling in Massachusetts was not available then. Only brick-and-mortar sportsbooks were legally accessible. With that in mind, then, you could argue that August represented the slowest month for Massachusetts sportsbooks yet.
You could also call it the calm before the storm. The current month represents the first September in which Bay Staters have access to regulated sportsbooks. September is usually one of the best months of the year for sportsbooks around the US because of the return of NFL regular-season games.
For that reason, Massachusetts sportsbooks could more than makeup for a dismal August. Furthermore, September 2023 will probably follow August and be the best such month in Massachusetts history again.