Last updated: August 20, 2023
Massachusetts Gaming Commission has released reports for July 2023 mentioning $99 mn revenue generation in Gross Gaming Revenue and around $29.41 mn in taxable sports wagering revenue.
The Gross Gaming Revenue (GGR) in July 2023 at Plainridge Park Casino (PPC), Encore Boston Harbour (EBH) and MGM Springfield (MGM), was estimated to be $99 million, according to a report released by the Massachusetts Gaming Commission (MGC).
In addition, for July, the eight licensees for mobile or online sports wagering and the three licensees for in-person sports wagering collectively generated around $29.41 million in taxable sports wagering revenue (TSWR).
PPC, a facility with category two slots, is taxed on 49% of GGR. 82% of the entire taxable revenue goes to local aid, and 18% goes to the racehorse development fund. Category 1 resort casinos MGM Springfield and Encore Boston Harbour are subject to a 25% gross gaming revenue tax; the money is distributed to several particular state funds by the gaming statute.
Since the individual debuts of each gaming facility, the Commonwealth has, so far, received roughly $1.487 billion in overall taxes and assessments from the casino operations of MGM, Encore and PPC.
EBH, MGM, and PPC are all authorised to run retail sportsbooks at their respective properties as Category 1 Sports Wagering Operator licences. Operators in Category 1 are subject to a 15% TSWR tax.
As Category 3 Sports Wagering Operators, Betr, Caesars Sportsbook, Barstool Sportsbook, DraftKings, BetMGM, FanDuel, Fanatics Betting & Gaming, and WynnBet are authorised to run mobile or internet sportsbooks. Operators in Category 3 are subject to a 20% TWSR tax.
The General Fund receives 45% of the total taxed amount for all operators, followed by the Gaming Local Aid Fund, 27.5%, next the Workforce Investment Trust Fund, which receives 17.5%, the Public Health Trust Fund, 9% and the Youth Development and Achievement Fund, receives 1%.
Since sports wagering started in person on January 31, 2023, and online on March 10, 2023, the Commonwealth has received roughly $45.81 million in total taxes and assessments from the operations of licensed operators.
The Sports Wagering Law permits an operator to carry over any negative tax liability to returns filed for subsequent months when an operator’s adjusted gross sports betting receipts for a month are negative because winnings paid to bettors and excise taxes paid by federal law exceed the operator’s total gross receipts from sports wagering.
Susan is a verified gambling support specialist who has helped thousands of problem gamblers get back on their feet through therapy and financial counseling. She’s also worked as a cage manager in four Las Vegas casinos and spent two years in Macau in her 30s, where she became extremely savvy at Sic Bo and other Asian table games. Her knowledge and expertise have and continue to play a priceless part in how we structure our content, particularly when it comes to game guides and casino reviews.
