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Massachusetts Casino And Sports Betting Revenue Slow Down In February

Written By J.R. Duren on March 18, 2024
MGM Springfield Casino Front Facade

After a strong start to online sports betting in January, Massachusetts sportsbooks (and casinos) saw revenue drop in February.

The state’s three casinos, three retail sportsbooks, and nine online sportsbooks generated $153.1 million in taxable revenue this past month. February’s revenue dipped around $11.5 million from January, a decline largely due to fewer betting days and a considerable decline in sports betting revenue.

February’s per-day revenue total was just $33,000 lower than January’s daily totals.

Massachusetts casino revenue was up 7.5% month-on-month

Despite having fewer business days in February, Massachusetts’ three casinos (two traditional casinos and one racino) generated around $7 million more in revenue than in January 2024, good enough for a 7.5% increase:

Encore Boston HarborMGM SpringfieldPlainridge ParkTotalMonth-on-Month Change
February 2024$64,405,266.61$22,977,235.45$13,186,169.52$100,568,671.587.51%
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$103,035,397.689.58%
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$96,670,503.146.95%
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%
July 2023$61,276,166.88$23,514,534.87$13,851,914.27$98,642,616.02-1.94%
June 2023$65,495,804.62$22,211,802.81$12,890,231.78$100,597,839.211.92%
May 2023$62,541,793.67$23,346,544.27$12,812,924.90$98,701,262.84-2.43%
April 2023$63,984,183.14$23,735,696.18$13,444,345.44$101,164,224.76-3.24%
March 2023$66,211,969.89$24,079,637.77$14,256,239.09$104,547,846.756.68%
February 2023$62,705,178.76$23,257,490.95$12,040,729.95$98,003,399.661.16%
January 2023$61,856,924.44$22,853,749.75$12,166,668.78$96,877,342.97N/A

Not only was monthly revenue up for Massachusetts casinos, but yearly numbers increased, too. Revenue grew around $2.5 million compared to February 2023

Additionally, February’s revenue total was the fifth-highest over the past 13 months.

February sports betting tumbles 26% in Massachusetts

While casinos in Massachusetts had a great month, sportsbooks did not. Revenue dropped nearly $20 million month-on-month, or 26.1%.

However, the decline isn’t as alarming as it seems. US sportsbook markets tend to struggle in February because the NFL season, which causes significant betting action, only plays one game: the Super Bowl.

Retail RevenueOnline RevenueTotal RevenueMonth-on-Month Change
February 2024$723,224.79$51,826,928.19$52,550,152.98-26.12%
January 2024$1,207,713.44 $69,923,081.42$71,130,794.8617.47%
December 2023$1,293,409.91$59,256,745.32$60,550,155.2324.65%
November 2023$370,189.49$48,576,131.14$48,576,131.14-16.50%
October 2023$979,328.98$58,198,360.51$58,177,689.4921.58%
September 2023$783,017.39$49,026,912.17$49,809,929.56119.34%
August 2023$157,782.30$22,551,157.96$22,708,940.26-22.78%
July 2023$576,138.69$28,832,914.14$29,409,052.83-8.68%
June 2023$153,922.55$32,050,672.53$32,204,595.08-47.18%
May 2023$1,559,828.35$59,410,840.40$60,970,668.753.49%
April 2023$364,481.54$58,548,295.26$58,912,776.8025.10%
March 2023$1,455,304.43$45,637,352.16$47,092,656.593,204.05%
February 2023$1,425,300.97Wasn't legal$1,425,300.97N/A

DraftKings and FanDuel lead the way once more

According to February gaming data from the Massachusetts Gaming Commission, DraftKings and FanDuel accounted for roughly 80% of all handle (total amount bet) and 86% of revenue among online sportsbooks. Here’s how the top 5 casinos by revenue performed last month:

  1. DraftKings: $30.8 million
  2. FanDuel: $14 million
  3. BetMGM: $3.3 million
  4. ESPN Bet: $2.2 million
  5. Fanatics: $1.1 million

Month-on-month, DraftKings‘ revenue was down around $5.3 million, while FanDuel‘s plummeted more than $11 million.

J.R. Duren Avatar
Written by
J.R. Duren

J.R. Duren has covered the gambling beats for more than a dozen states for Catena Media since 2015. His past reporting experience includes two years at the Villages Daily Sun, and he is a first-place winner at the Florida Press Club Excellence in Journalism Contest.

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