In the first nine days that it was open, gamblers lost almost $10 million to the first full-scale casino to open under Massachusetts’ 2011 expanded gaming law. MGM Springfield, which opened on Aug. 23, collected gaming revenue of roughly $9.46 million between its opening and the end of August – about $7.35 million from slot machines and about $2.11 million from table games, the Massachusetts Gaming Commission reported Monday.

The commission said more than $72 million was wagered on slot machines alone and that 89.88 percent of that money was returned to players as winnings. Resort casinos in Massachusetts are taxed at a rate of 25 percent of their gross gaming revenue. The Gaming Commission said the state’s share of revenue from MGM Springfield’s first week and a half was $2.36 million.

Gaming Commission chairman Stephen Crosby has said Massachusetts can expect MGM Springfield and the full-scale casino being built in Everett will each return “easily” between $75 and $100 million in state tax revenue per year and that the state can expect to collect about $300 million in total annual gaming revenue.

At Plainridge Park Casino in Plainville, bettors put $190 million into the slots machines during the entire month of August, the commission reported Monday, and the slots parlor collected $15.38 million in revenue from those wagers. Plainridge, owned by Penn National Gaming, reported a prize payout percentage of 91.91 percent in August. The state is entitled to about $6.15 million of Plainridge’s August revenue in the form of state taxes intended for local aid and another $1.38 million for the Race Horse Development Fund.

That works out to a total tax or assessment hit of roughly $7.54 million in August, according to the Massachusetts Gaming Commission. Plainridge is taxed on 49 percent of its gross gaming revenue, with 82 percent of the levy going to local aid and 18 percent to a fund set up with the goal of supporting horse racing, an industry that is struggling in Massachusetts.

Between MGM Springfield and Plainridge, Massachusetts brought in $9.9 million in state taxes from gambling last month.

MGM Springfield Spins Off $2.36M in Taxes in First Week

by State House News Service time to read: 1 min
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