MGM Springfield Casino Grosses $27M in First Full Month
Massachusetts' first casino resort reports a successful first month of business. According to the state Gaming Commission, MGM Springfield brought in just under $27 million in gross gaming revenue in September. Of that total, the state collected $6.74 million in taxes.
In the breakdown of September revenue, more than $18 million came from MGM's slot machines while a little over $8 million was made on table games. Guests wagered a total of $190,008,079.79 on slot machines.
MGM Springfield officially opened on August 24. The casino made $9.4 million in gross gaming revenue in the final week of August following its grand opening. State regulators are hoping the figures from August and September are good indications that the casino will meet its first-year projection of $418 million in gross gaming revenue.
Furthermore, The Massachusetts Gaming Commission anticipates the casino's gaming revenue to normalize at $500 million annually by year three. However, the commission came to that conclusion when the Springfield casino's only competition was two slots parlors in the state.
Since creating the initial revenue projections for the MGM Springfield, the state approved a second full-service casino by Wynn Resorts. Now known as Encore Boston Harbor, the project is currently under construction and expected to open sometime next year.
The $27 million reported by the Gaming Commission does not include any revenue from MGM Springfield's 250-room hotel, dining, retail, or entertainment sales. The 14.5-acre complex includes bowling alleys, movie theaters, and more with the potential to match or exceed the revenue earned from gambling on the property.