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Welcome back to the $100 million club, Massachusetts.
This past month, the state’s four casinos generated $103.3 million in revenue, marking the first time since March that revenue passed the century mark.
The revenue report does not include online casinos, as iGaming is illegal in the Bay State.
Key takeaways
- Massachusetts casino revenue eclipsed $100 million in August for the first time in five months.
- MA online casinos could’ve brought the state’s casino operators more than $110 million this past month had it been legal.
- All four casinos hit five-month highs in August.
Will revenue opportunities persuade lawmakers to legalize online casinos?
Maybe, but not in 2024.
However, Rep. David Muradian told PlayUSA legal analyst Matthew Kredell that he plans to file a bill to legalize online casinos next year. Muradian called online casinos “the next logical step” after he and his colleagues passed a bill to bring an online lottery to Massachusetts.
Generally speaking, states are more open to online casinos if other forms of online gaming already exist.
For example, online sports betting typically paves the way for online casinos. An online lottery also softens legislators and the public to online casinos. With Massachusetts having legal online sports betting and MA iLottery arriving in the future, the stage seems to be set for online casinos.
If lawmakers approve iGaming, operators are in for huge revenue numbers. Using the most recent online revenue reports and data from the Census Bureau, PlayUSA predicts online casinos could’ve created $118 million in July for Massachusetts.
| July online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue | |
|---|---|---|---|
| Pennsylvania | $215.4 million | 13 million | $16.65 |
| Michigan | $195.4 million | 9.3 million | $20.65 |
| New Jersey | $191.4 million | 10 million | $19.86 |
| Connecticut | $41.7 million | 3.6 million | $12.86 |
| West Virginia | $20 million | 1.8 million | $9.94 |
| Delaware | $6 million | 1 million | $3.90 |
| Rhode Island | $2.6 million | 1.1 million | $2.09 |
| Average | $96.1 million | 5.7 million | $16.86 |
| Massachusetts | $118 million | 7 million | $16.86 |
Casino revenue resurgence is a positive sign heading into the fall
If you were to go back to last year, things were not looking good for Massachusetts casino revenue.
Revenue had fallen three consecutive months: -1.94% in July, -0.7% in August, and -7.7% in September. In each of those months, revenue never got higher than $98.6 million.
This year, however, has been noticeably different. Revenue was up 3.8% in August and 3.5% for MA casino revenue in July 2024. Total revenue from August and July was $202.8 million, up $6.2 million over the same period in 2023.
Furthermore, according to the latest revenue report from the Massachusetts Gaming Commission, August revenue was up 5.5% year-on-year.
| Month | Encore Boston Harbor | MGM Springfield | Plainridge Park | Total | Month-on-Month Change |
|---|---|---|---|---|---|
| August 2024 | $64,916,948.06 | $23,670,442.85 | $23,670,442.85 | $103,282,648.13 | 3.83% |
| July 2024 | $61,486,378.39 | $23,578,251.42 | $14,405,508.01 | $99,470,137.82 | 3.52% |
| June 2024 | $60,372,754.47 | $21,924,494.33 | $13,787,078.56 | $96,084,327.36 | -1.94% |
| May 2024 | $61,175,511.90 | $22,422,693.90 | $14,390,836.53 | $97,989,042.33 | 0.50% |
| April 2024 | $60,889,925.23 | $22,771,251.59 | $13,837,470.78 | $97,498,647.60 | -12.22% |
| March 2024 | $70,417,586.39 | $25,248,645.40 | $15,408,139.97 | $111,074,371.76 | 10.45% |
| February 2024 | $64,405,266.61 | $22,977,235.45 | $13,186,169.52 | $100,568,671.58 | 7.51% |
| January 2024 | $60,949,231.05 | $20,707,304.91 | $11,884,081.94 | $93,540,617.90 | -9.22% |
| December 2023 | $65,826,442.79 | $23,610,279.58 | $13,598,675.31 | $103,035,397.68 | 9.58% |
| November 2023 | $61,431,284.04 | $20,998,830.74 | $11,600,410.06 | $94,030,524.84 | -2.73% |
| October 2023 | $62,366,934.78 | $21,534,948.52 | $12,768,619.84 | $96,670,503.14 | 6.95% |
| September 2023 | $59,820,850.47 | $17,443,073.79 | $13,125,723.80 | $90,389,648.06 | -7.70% |
| August 2023 | $61,320,321.54 | $23,525,299.32 | $13,079,840.00 | $97,925,460.86 | -0.73% |
All three casinos in the state posted their highest numbers since MA March 2024 gaming revenue. Additionally, each property had its second-best revenue month of the year.
Encore Boston Harbor‘s $64.9 million win was its third-highest, dating back to August 2023. MGM Springfield and Plainridge Park posted their second-highest revenue total in the past 12 months and Plainridge Park.
All in all, August was a fantastic month for Massachusetts casinos. The way revenue is trending higher than at this point last year, we could see revenue pass $100 million at least twice before the end of the year.
