The New England casino market got a little bit bigger in August. And even though MGM Springfield was only open for business for nine days it generated nearly $10 million in gross gaming revenue.
That sent total slot revenue at the region’s eight casinos over the $170 million mark for the month. And next month promises to be even better.
Not only will MGM have a full month of revenue to report, but the new Twin River casino in Tiverton officially opened its doors on September 1. The new Tiverton casino is expected to outperform the property it’s replacing, the dated Newport Grand.
A closer look at this month’s slot revenue
MGM posted solid, but somewhat unremarkable revenue numbers during its first week.
Instead of becoming one of the top casinos in the region (as many expected), MGM Springfield is looking more like a second-tier property, with revenues well below Mohegan Sun, Foxwoods and Twin River.
New England slot revenue August 2018:
- Mohegan Sun Casino – CT: $53,323,982
- Foxwoods Casino – CT: $41,448,573
- Twin River Casino – RI: $38,823,566
- Plainridge Park Casino – MA: $15,380,183
- Oxford Casino – ME: $7,971,072
- MGM Springfield – MA: $7,347,491
- Hollywood Casino – ME: $4,040,262
- Newport Grand Casino – RI: $3,665,294
- Total: $172,000,423
Here’s how each facility stacks up:
|# Slot Machines||Average RTP|
|Twin River Lincoln||4,200||86%|
|Twin River Tiverton||1,000||84%|
A closer look at this month’s table game revenue
Based on the early returns, when it comes to table game revenue, MGM Springfield will likely slide into the number two spot behind Twin River.
Table game revenue August 2018:
- Twin River Casino – RI: $10,370,796
- MGM Springfield – MA: $2,109,485
- Oxford Casino – ME: $1,618,142
- Hollywood Casino – ME: $788,689
- Total: $14,887,112
Here’s how each facility stacks up:
|# Table Games||# of Poker Tables|
|Twin River Lincoln||100||22|
|Twin River Tiverton||32+18 Stadium Games||N/A|
Update on new and proposed casinos
The New England casino market is still a work in progress.
Even though its parent company is still being investigated, Encore Boston Harbor appears to be on track for its June 2019 opening, but the same cannot be said for proposed tribal casinos in the region.
The Mashpee Wampanoag Tribe’s First Light Casino project in Taunton, Massachusetts was recently dealt yet another blow by the Department of Interior. That said, the tribe is still fighting, which means the project is still stuck in legal limbo.
The proposed Mohegan-Foxwoods satellite casino in East Windsor, Connecticut was recently dealt a major setback of its own. Judge Rudolph Contreras of the U.S. District Court of the District of Columbia ruled against the tribes and the state of Connecticut, finding no legal standing to force the DOI to accept the satellite casino revisions to the tribal compacts.
And if things weren’t tumultuous enough, there is also the fallout from the stunning resignation of Massachusetts Gaming Commission Chairman Stephen Crosby to contend with.
State-by-state casino revenue breakdown
Opening week at the billion-dollar MGM Springfield doesn’t appear to have impacted Plainridge Park’s revenue. In fact, Plainridge’s slot revenue grew by 7 percent year-over-year.
That’s good news for the region, since cannibalization was a major concern.
August saw slot revenue ticked down slightly at both Mohegan Sun and Foxwoods. But the emergence of MGM Springfield is just the beginning of the storm the region’s two powerhouse casinos will have to weather.
MGM Springfield and Twin River Tiverton will both act as traffic chokepoints for the Connecticut casinos. When Encore Boston Harbor opens next year, it will be on a size and scale to rival the two tribal casinos.
The two tribal casinos are really going to be put to the test over the next 12 months.
Twin River’s Rhode Island casinos are playing the role of the little engine that could, and it will be really interesting to see how the Tiverton property performs compared to the now-defunct Newport Grand.
There’s also the soon to be completed 136-room hotel at Twin River’s Lincoln casino, an amenity long overdue at the property.
Like the rest of the region, there was no discernible impact at either Maine casino from the opening of MGM Springfield.
That’s not too surprising. The Maine casinos are more of a convenience for locals. They are unlikely to lose a lot of business to an attraction that’s still several hours away.