Oct. 15–SPRINGFIELD — MGM Springfield pulled in nearly $27 million in gross gaming revenue in its first full month of operations, according to a report released Monday by the Massachusetts Gaming Commission.
According to the commission, MGM reported $26,952,096.39 in gross gaming revenues for September, which includes over $18 million from slot machines and more than $8 million from table games. The casino profited from slots gambling at a rate of 9.55 percent for the month, as a total of $190,008,079.79 was wagered on slot machines.
The payout to the state from MGM Springfield was $6,738,024.10 in taxes, the commission said.
In August, MGM reported $9,456,976.90 in gross gaming revenue and paid $2,364,244.23 in taxes. This was from just over a week of business surrounding the Aug. 24 grand opening.
MGM Springfield previously reported to the gaming commission that it expected around $418 million in gross gaming revenue from the first year of operations, with that number normalizing to around $500 million annually by year three.
That projection was given with the assumption that there were two other full-service casinos and a slots parlor operating in the state. But as of October, MGM's resort casino and the Plainridge Park slots parlor are the only operating gaming facilities in Massachusetts. Encore Boston Harbor, which will be owned and operated by Wynn Resorts, is under construction and the gaming commission has so far declined to issue a license for southeastern Massachusetts.
The figures reported for September do not account for the money and taxes generated from MGM's 250-room hotel, food and beverage sales and entertainment at the 14.5-acre complex in Springfield's South End.
"We are pleased with the solid visitor volume we experienced in September, our first full month of operations. Our hotel and restaurants continue to reflect impressive numbers of guests eager to experience what our new resort has to offer," said Michael Mathis, president and chief operating officer of MGM Springfield. "Visitors from across the region are responding well to the breadth of our overall entertainment strategy. Our financial performance is on track with our expectations, and we remain grateful for the ongoing support of the Springfield community."
MGM Springfield, as a Category 1 resort casino, is taxed on 25 percent of its gross gaming revenue and those revenues are allocated to several specific state funds as determined by state law.
Under its host community agreement, MGM pays the city of Springfield approximately $17.6 million annually in lieu of taxes. Those payments began this fiscal year.
The Plainridge Park Casino, which opened in 2015 in Plainville, reported $14,319,232.42 in gross gaming revenue in September. Plainridge, a Category 2 slots facility, is taxed on 49 percent of its gross gaming revenue, with 82 percent paid to local aid and 18 percent allocated to the Race Horse Development Fund.
Plainridge, which is owned and operated by Penn National Gaming, paid $7,016,423.89 in taxes to the state in September.
To date, the state has collected approximately $273,300,682 in total taxes and assessments from the Plainridge Park Casino and MGM Springfield since the respective openings of their gaming facilities.
