Massachusetts Gaming Commission Announces January 2024 Revenue

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

In addition, it generated about $71.13 million in taxable sports betting revenue TSWR across eight mobile/online sports betting licensees and three face-to-face licensees during the month of January.

Games Total Revenue Casino Games

The PPC, a Category 2 slot facility, is taxed on 49% of the GGR. Of the total taxable amount, 82% is allocated to local aid and 18% to the racehorse development fund. The Category 1 resort casinos MGM Springfield and Angkor Boston Harbor are taxed on 25% of the GGR, and these funds are allocated to several specific state funds under game statutes.

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

sports betting returns

EBH, MGM and PPC are Category 1 sports betting operators that can be licensed to operate retail sportsbooks at their respective properties. Category 1 operators are taxed on 15% of TSWR.

BetMGM, Betr, Caesars Sportsbook, DraftKings, Panatics Betting and Gaming, FanDuel, Penn Sports Interactive, and Winbet have been licensed as category 3 sports betting operators to operate mobile or online sportsbooks. Category 3 operators are taxed on 20% of TWSR.

Of the total taxable amount of all operators, 45% is allocated to general funds, 17.5% to the Manpower Investment Trust Fund, 27.5% to the Game Area Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.

To date, the Commonwealth has collected approximately $180.4 million in taxes and valuations from licensed operators' sports betting operations since sports betting began in person on January 31, 2023, and online on March 10, 2023.

If wages and excise tax revenues paid under federal law exceed the total revenues of businesses from sports betting, resulting in negative adjusted sports betting gross revenues for one month, businesses can carry forward negative amounts of tax liabilities on returns filed the following month under the Sports Betting Act. 슬롯사이트 순위