The Massachusetts Gaming Commission has released its casino gambling and sports betting revenue report for June. Total taxable revenue for the month from both activities was a little over $132 million, a decline of 20% from May, when the state generated a total of $159.9 million.
The combined gross gaming revenue (GGR) from the state’s three casinos – Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor – for the month was approximately $101 million. The figure represented a slight improvement from May, when the casinos generated $98.7 million; and is also up 8% year-over-year. The total taxes collected from June’s casino revenue was $28.2 million.
Among the three casinos in Massachusetts, Encore Boston led the way with $65.5 million in revenue from slots and table games, followed by MGM Springfield, which generated $22.2 million; and slots-only Plainridge Park, which made a total of $13 million.
Sports betting down in June
Massachusetts sports wagering in June generated approximately $32.2 million in taxable sports wagering revenue (TSWR), down by almost half from $60.9 million May. Out of this total, $6.4 million was collected in the form of taxes.
A total of eight mobile sports wagering licensees and three in-person sportsbooks were in operation during the month. As for handle, sports betting operators took in over $332 million in bets in June, down from the $455 million reported in May.
According to the MGC’s June report, the top-five online operators by revenue were DraftKings with $15 million from $159 million in sports betting handle, followed by FanDuel with $11 million, BetMGM with $3.5 million, Barstool with $1 million, and Caesars with $655,305.
June was the first full month for Fanatics Sportsbook, which reported $1.9 million in handle and $221,608 in revenue. Meanwhile, micro-betting platform Betr experienced its second month in operation, generating $290,649 in handle.
Sports betting continues its downward trend since its March launch. However, the trend is an expected one as summer months tend to bring the industry to a halt due to the limited number of sports to wager on. Sports betting across the US is expected to see a boost beginning in August, when football betting starts.
Original article: https://www.yogonet.com/international/news/2023/07/19/67954-massachusetts-casinos-sports-betting-operators-see-revenue-down-to-132m-in-june
