Massachusetts Generates $163.5 Million in Gaming Revenue in December 2023
The Massachusetts Gaming Commission (MGC) has released its revenue report for December 2023, revealing that the state earned a significant amount from gaming activities. The report highlights that Massachusetts generated $163.5 million in taxable gaming revenue during the month.
Retail Casinos in Massachusetts Generate $103 Million in Gross Gaming Revenue
The revenue report also sheds light on the performance of the three retail casinos in Massachusetts – Encore Boston Harbor, MGM Springfield, and Plainridge Park Casino. Collectively, these establishments generated $103 million in gross gaming revenue (GGR) in December.
Encore Boston Harbor Leads Retail Casinos in Massachusetts with $65.8 Million in Revenue
Among the three retail casinos, Encore Boston Harbor emerged as the top earner, contributing significantly to the overall revenue. The venue generated an impressive $65.8 million in gross gaming revenue, with $36.1 million coming from slot machines and $29.6 million from table games. Encore Boston Harbor also paid $16.4 million in taxes to the state.
Massachusetts Sports Betting Reaches $658.6 Million in December
The revenue report also highlights the performance of sports betting in Massachusetts. In December, sports betting activities amounted to a total of $658.6 million, representing a marginal month-over-month increase. The boost in revenue can be attributed to losses incurred by bettors.
DraftKings Dominates Massachusetts Online Sports Betting with $315.8 Million in Wagers
Online sports betting in Massachusetts has seen significant success, with DraftKings leading the way. The report indicates that DraftKings generated $315.8 million in wagers and $29.9 million in taxable gaming revenue, making it the top online operator in the state. FanDuel followed closely with a $187.3 million handle and $19.3 million in revenue.
In addition to DraftKings and FanDuel, Massachusetts has six other online operators, including ESPN Bet, BetMGM, WynnBet, Fanatics, Betr, and Caesars Sportsbook. Overall, these operators accumulated a total of $643.1 million in bets, indicating a strong market for online sports betting in the state.
The Massachusetts Gaming Commission’s December revenue report paints a positive picture for the gaming industry in the state. With significant revenue from both retail casinos and online sports betting, Massachusetts is poised for continued success in the coming year.
Analyst comment
Positive news: Massachusetts Generates $163.5 Million in Gaming Revenue in December 2023.
As an analyst, I predict that the market will continue to thrive in Massachusetts, with both retail casinos and online sports betting contributing to significant revenue growth. The success of DraftKings and other online operators indicates a strong and promising market for online sports betting in the state.
