Massachusetts’ Total Taxable Gaming Revenue Rises To Over $163 Million

Written By Tebearau Egbe on January 19, 2024
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The Massachusetts Gaming Commission (MGC) recently published its December 2023 revenue report, in which the state generated $163.5 million in taxable gaming revenue.

Highlights from the December revenue report

  • MA casinos generated $103 million in gross gaming revenue.
  • Mobile and online sports betting raised $60.5 million in taxable revenue.
  • Gamblers lost $103 million to Massachusetts casinos.

Encore Habor tops the chart for the three retail casinos in Massachusetts

Turning attention to the revenue report from retail operators in the state, the three prominent locations—Encore Boston Harbor, MGM Springfield, and Plainridge Park Casino—jointly generated $103 million in gross gaming revenue (GGR). Additionally, the total money gambled at these retail establishments reached $15.5 million.

Encore Boston Harbor contributed significantly to the overall revenue, generating $65.8 million, with $36.1 million stemming from slot machines and $29.6 million from table games. A noteworthy portion of this, amounting to $16.4 million, was paid in taxes to the state.

In December, the three casinos collectively disbursed $29 million in taxes.

MGM recorded $23.6 million jointly from table and slots, which was slightly higher than what it garnered in November 2023 gaming revenue, which was $21.0 million.

Plainridge Park, which does not offer traditional table games, disclosed an increase in gross revenue derived from its slot machines. The venue reported a total of $13.5 million in gross gaming revenue, showcasing a slight growth compared to the $11.6 million reported in November.

Since the inception of MGM, Encore, and Plainridge Park, the Commonwealth has amassed a substantial sum of approximately $1.29 billion in total taxes and assessments.

December sports betting amounted to $658.6 million

Sports betting in Massachusetts reached a total of $658.6 million, representing a marginal month-over-month growth of less than 1%, given that the November figure stood at $654.4 million. Despite this modest increase, sportsbooks in the state experienced a boost in revenue, largely attributed to losses incurred by bettors.

When examining the annual aggregate handle for the state, it amounted to $4.97 billion. This figure could have been higher if betting apps had been available in the state earlier in the year, but betting apps were not available in the state until the NCAA Tournament in March.

A positive ending for online sportsbooks in 2023

Massachusetts has eight online operators in the state, namely:

  • DraftKings
  • FanDuel
  • ESPN Bet
  • BetMGM
  • WynnBet
  • Fanatics
  • Betr
  • Caesars Sportsbook

Together, all eight operators racked up $643.1 million in total bets, of which DraftKings led by single-handedly generating $315.8 million in wagers and $29.9 million in taxable gaming revenue for the second time in 2023.

FanDuel followed DraftKing in earning second place with a $187.3 million handle and 19.3 million in revenue, which was an increase from the November figure of $12.1 million. The 20% of tax collected by the state also summed up to $3.8 million.

Following the debut of ESPN Bet in November, where it secured a narrow lead over BetMGM for the third position, December’s results unequivocally confirm its standing. ESPN Bet disclosed a remarkable $49.9 million in bets last month, firmly establishing the PENN product in third place, surpassing BetMGM’s $39 million.

Moreover, with revenue of $4 million outpacing BetMGM’s $3 million, these figures indicate a promising trend that is likely to persist throughout 2024.

Looking at the MGC’s December revenue report, Betr trailed behind the other operators with $498.897.01 in wagers. Taxable gaming revenue stood at $37.991.32, of which the 20% collected by the on-tax summed to $7.598.26.

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Tebearau Egbe

Tebearau Egbe has written about gambling for more than four years. She has a Master's degree in philosophy and possesses a unique ability to dissect complex industry developments, distilling them into insightful narratives for readers.

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