In Massachusetts, the new MGM Springfield integrated casino resort reportedly generated gross gaming revenues of just over $9.45 million during its first eight days in business and paid some $2.36 million in taxes.
August 24 premiere:
According to a Monday report from The Republican newspaper citing official figures from the Massachusetts Gaming Commission (pdf), the $960 million venue from Las Vegas-based MGM Resorts International opened its doors on August 24 complete with a 125,000 sq ft gambling floor offering a selection of some 2,550 slots alongside 120 gaming tables.
Casino to benefit local community:
The newspaper reported that the eight-day period saw MGM Springfield record gross gaming revenues of just over $7.34 million from its slots while the figure for the property’s table games reached almost $2.11 million. Under its host community agreement, MGM Springfield is to pay Springfield at least $17.6 million each year in lieu of taxes while all of the ‘Category I’ enterprise’s gross gaming revenues are being taxed at a rate of 25% with proceeds spread among several state funds.
Opening weekend exuberance:
The Republican reported that MGM Springfield had exceeded expectations after drawing in more than 150,000 visitors over its first three days with the venue’s President, Michael Mathis, declaring that the property has since continued ‘to experience good visitor volumes.’
Mathis to The Republican…
“While these gaming revenue figures represent less than eight days of operations in August, they demonstrate MGM Springfield’s tremendously successful opening week when we welcomed more than 150,000 visitors over our first weekend alone. We are pleased our effort to design a resort to complement downtown Springfield is being so enthusiastically received.”
Plainridge Park Casino figures:
Elsewhere in Massachusetts and the ‘Category II’ slots-only Plainridge Park Casino generated gross gaming revenues of slightly over $15.38 million for the whole of August and paid some $7.53 million in taxes courtesy of a 49% tax rate. The Norfolk County facility with its collection of over 1,200 machines is operated by Wyomissing-headquartered Penn National Gaming Incorporated while some 18% of its tax revenues purportedly go to help support the eastern state’s Race Horse Development Fund.