The Massachusetts Gaming Commission (MGC) has reported that the state gaming industry generated $156.12 million in gross gaming revenues (GGR) in February 2024. According to the MGC data, three land-based casinos generated $100.55 million in GGR to stand for around 65 % of the industry’s total revenue figure, while retail and online sports betting facilities contributed $55.57 million in taxable revenues to represent around 35% of the total gambling revenues generated in Massachusetts in February.
MGC Report:
The official data from the Massachusetts Gaming Commission’s Feb 2024 Revenue Report (pdf) indicates that the February revenue level aggregated by the land-based casinos, Plainridge Park Casino (PPC), MGM Springfield (MGM) and Encore Boston Harbor (EBH), has generated $10.5 millionin taxes for the state. As reported by the regulator, Plainridge Park Casino received $5.6 million in bets to lead the land-based market in the subject month. According to the MGC, the revenue generated in February contributed to a total of $1.677 billion in tax revenues collected by the state since the respective launch of each of these gambling properties.
MGC also reports that the eight online sports betting operators and three in-person sports books made significant contributions in the month. Although the reported $55.57 million GGR level represents a 16.8% decline when compared to January 2024, the performance of the sports wagering segment continues to funnel considerable gaming and tax revenues. Therefore the regulatory body reports that the state has collected a total of $118.56 million in tax revenues since the sports betting was launched in the state.
Sportsbooks Handled Almost $6 Billion in 12 Months:
In the MGC press release (pdf), the MGC indicates that the in-person sports wagering operation commenced on January 31, 2023, to be followed by online sports betting on March 10, 2023. The month of February 2024 therefore marks the 12 month of digital sports betting and the $5.98 billion handle made by the online platforms. Online sportsbooks reportedly handled $530.3 million and the retail sports betting facility handled $12.2 million in bets for February 2024 to propel the overall handle figure.
The state’s online sports wagering market saw an extended market leadership of DraftKings. The operator handled almost $270 million in wagers during the month, followed by FanDuel with nearly a $160 million handle. Other online operators, like BetMGM, ESPN, Fanatics, and Caesars, saw the end of the month with handle levels hovering within the range of around $18 million to around $40 million in bets. In February, WynnBet and Betr closed their respective online sports betting facilities in the Bay State. The online market reportedly now expects the BellyBet’s kick-off in June 2024.