Massachusetts Gaming Commission Announces January 2024 Earnings

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The Massachusetts Gaming Commission reported total gaming revenue of approximately $93.54 million for the month of January 2024 at Plainidge Park Casino, MGM Springfield and Encore Boston Harbor.

It also generated about $71.13 million in sports betting revenue (TSWR) from eight mobile/online sports betting licenses and three face-to-face licenses during the month of January.

Total Game Revenue (Casino Games)

The PPC, a Category 2 slot facility, is taxed on 49 percent of its GGR. Of that total tax, 82 percent is paid to Local Aid and 18 percent is allocated to the Racehorse Development Fund. Category 1 resort casinos MGM Springfield and Angkor Boston Harbor are taxed on 25 percent of their GGR. The money is allocated to several specific state funds as determined by game laws.

To date, the Commonwealth has collected approximately $1.649 billion in total taxes and valuations from casino operations at PPC, MGM and Angkor since the opening of each gaming facility.

earnings from sports betting

EBH, MGM and PPC are licensed as Category 1 Sports Wagging Operator, which allows them to operate retail sportsbooks on their properties. Category 1 operators are taxed on 15% of TSWR.

BetMGM, Betr, Caesars Sportsbook, DraftKings, Fanatics Betting & Gaming, FanDuel, Penn Sports Interactive, and WynnBET are licensed as Category 3 Sports Waging Operators, which can run mobile or online sportsbooks. Category 3 operators are taxed on 20% of TWSR.

Of all operators’ total taxes, 45% are allocated to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Regional Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.

Commonwealth has collected approximately $108.04 million in total taxes and valuations on licensed operators’ sports betting operations to date since they began placing sports bets in person on January 31, 2023, and online on March 10, 2023. 슬롯사이트

If a business operator’s adjusted total sports betting receipts for the month are negative because the winnings and excise taxes paid to wage workers under federal law exceed the business operator’s total sports betting receipts, the Sports Betting Act allows the business operator to carry over the negative amount of its tax liability on returns filed next month.