Massachusetts Casino Revenue Dips in September
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October 15, 2019
Massachusetts is just beginning to embrace the casino industry. There are a few major gambling hubs here, all of which are fiercely competitive with each other. Unfortunately, new reports indicate that Massachusetts casino revenue fell in September.
Today, we’ll be looking at the expansion of Massachusetts’ casino market. We will also talk about how much money these casinos managed to bring in last month. Let’s get into it!
More Casinos Begin to Open in Massachusetts
The US gambling industry has never been stronger. Many states around the country are beginning to liberalize their casino gambling laws and are experiencing massive revenue earnings as a result. Several major companies have begun looking at Massachusetts as a lucrative new casino market to break into.
Wynn Resorts is one such company. Back in June, Wynn opened the Encore Boston Harbor casino-resort in Everett, MA. The location was concerning for some; it was previously an unattractive industrial area.
Fortunately, Wynn Resorts’ new casino in Massachusetts has proven to be massively successful. It’s been generating major revenue for the company and state since opening its doors to the public. Encore Boston Harbor was also been outperforming the MGM Springfield gambling venue, which was once the most popular gaming hub in the state.
Many companies are now working to open gambling venues here. Over the next few years, two new venues could open their doors here including the Aquinnah Cliffs Casino and Project First Light Resort & Casino.
Some analysts believe that Massachusetts will become the next major casino destination in the US. Of course, even here gambling revenue can sometimes dip.
Massachusetts Casino Revenue Finally Drops
For a time, it looked like casinos in MA would continue to experience an increase in gambling revenue for the remainder of 2019. Multiple reports have now proven otherwise. Massachusetts casino revenue fell in September and companies are taking notice.
MGM Springfield experienced one of its worst months of the year. Overall gambling revenue fell by 5.1%. The gambling venue brought in $19.8 in September, a pretty significant decrease from the $20.9 million made in August.
Encore Boston Harbor experienced a dip in revenue, as well. According to the Massachusetts Gaming Commission, this casino-resort earned $48.9 million last month. $27 million came from slots and $21.8 million from table games. These revenue earnings also represent a pretty serious decrease from August, where the casino made $52 million.
There’s no real cause for concern, though. Many analysts have pointed out that September is always a less-profitable month than August. Many individuals experience the end of their summer vacations and head back to work.
It’s likely that Massachusetts casino revenue will bounce back this month. This state has never been earning more from its gambling industry and it’s only going to get better.
More Gambling Options Coming to MA
Many lawmakers in Massachusetts are interested in adding even more gambling options to the state. Since May of 2018, when PASPA was struck down, several politicians have called for sports betting to become legal and regulated here. State Representative Brad Hill gave his opinion on the matter to the media a few months ago.
“I want to get us up and running because there is another football season nearly upon us,” he said. “We’re missing a huge opportunity for revenue in this state. Massachusetts likes to gamble, we like our sports, and I should be able, as a citizen, to go bet on a football game. Why is this taking so long? We’re not reinventing the wheel here.”
Many are also calling for online casino gambling to become regulated here. Today, there are a huge number of great online casinos in MA available yet none are monitored by lawmakers in the state. Hope is that in time, this will change.
Massachusetts casino revenue has fallen yet the state still has one of the most lucrative gambling markets in the country. We’ll need to wait and see which new gambling options become available here in the future.
Stay tuned for more Massachusetts gambling news over the next few months!