MGM Springfield revenue falls in November
December 16, 2019
SPRINGFIELD — Gross gambling revenue, the total take from slot machines and table games, at MGM Springfield totaled $19.9 million in November — down more than $1.2 million from the previous month
Last month’s take was also lower than the $21.2 million MGM reported a year ago in November 2018.
The gross revenue was down 5.9% from October 2019 to November 2019 and down 6.1 percent from November 2018 to November 2019.
Before opening in August 2018, MGM told regulators the casino would bring in an average of $34.8 million a month. Instead, the average over the first 15 full months was $21.7 million a month, with a high of $25.7 million in March 2019.
MGM Springfield officials put a bright face on the reported revenue.
“We experienced great crowds in November coming to the property for our Winning Wonderland casino promotion and the grand opening of our new VIP Lounge, and on the development front, was excited to see the grand opening of a flagship CVS right across from the site to support the new residents that are flooding into the downtown," said Michael Mathis, president of MGM Springfield in a prepared statement. "We were especially proud to distribute more than $1.7 million in November as part of our annual payments to our surrounding communities under our Host Community Agreement. We’ve always believed strongly that the success of a company depends heavily on the success of the community where it operates. From the start, MGM Springfield has integrated itself into the fabric of the city and the broader western Massachusetts region and Commonwealth. We have always felt that our contributions should extend beyond the footprint of our property, and our annual payments to the city and surrounding communities are part of our economic impact, which will be felt in the region for generations.”
The state collects 25 percent of the gross gambling revenue at MGM Springfield in taxes. The November tax take was $4.9 million. The state has collected $83.7 million in gambling revenue at MGM Springfield since the casino opened.
Encore Boston Harbor, the state's other resort casino, reported $47 million in gross gambling revenue in November. That's up from $45 million the month before.
Plainridge Park slot parlor reported $10.1 million in gross gaming revenue in November, down from $11 million in October and $12.8 million a year ago in November 2018.