Gaming revenues down at Plainridge, MGM casinos Skip to main content

Gaming revenues down at Plainridge, MGM casinos

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profits changed into down last month at Plainridge Park on line casino and MGM Springfield, but the state will nevertheless count about $11.6 million in gaming tax collections from November.
players wagered $169.21 million on MGM Springfield's slot machines in November, and while 92.10 p.c of it became lower back to gamers as winnings, MGM Springfield pronounced $13.37 million in gross slot salary last month.
The on line casino additionally counted $7.87 million in gross revenue from its table games in November for total monthly earnings of about $21.24 million, in accordance with income figures launched Monday by the Massachusetts Gaming commission.
MGM's November earnings is the casino's smallest full-month take on account that it opened in late August. November's income represented a roughly 4.5 % drop from October.
Full-scale casinos in Massachusetts are taxed at a rate of 25 % of their gross gaming income and the month-to-month state tax haul from MGM in November was $5.31 million, the Gaming commission referred to.
At Plainridge Park on line casino in Plainville, officials reported slots income of $12.85 million closing month from $164.seventy eight million in wagers, the commission noted. November's revenues have been about 5 percent under October's and were 18.eight p.c reduce than March, which become Plainridge Park's ideal month of 2018.
The state is entitled to greater than $5.14 million of Plainridge's November earnings within the variety of state taxes intended for local aid and another $1.15 million for the Race Horse building Fund. That works out to a complete tax or assessment hit of about $6.3 million remaining month, based on the Gaming fee.
Plainridge is taxed on 49 p.c of its gross gaming revenue, with eighty two percent of the levy going to native aid and 18 percent to a fund set up with the aim of helping horse racing, an trade it truly is struggling in Massachusetts.

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