By Josh Resnek
Figures just released baby the Massachusetts Gaming position should be paid close attention to by Everett residents about to welcome a casino here.
Business should be brisk if these figures tell the story.
They do indeed tell a story of great success.
MGM Springfield, the state’s major casino at this time, has reported sharply higher earnings all around for March.
The total of wagers at MGM Springfield last month amounted to $203 million. That’s up by more than $30 million over February.
Since it opened in August, MGM Springfield has generated $1.345 billion in revenues.
Encore, when it opens, is expected to generate at least $1.2 billion a year, a figure which should be much higher given the level of investment and the positioning of the casino in Everett – so close to Boston.
State taxes amounted to $6.421 million – up by $1.1 million over the February figure.
All told, MGM has paid Massachusetts $42 million in taxes since the August opening.
By any stretch of the imagination, these are incredible earnings figures.
Slot machine revenue at Plainridge Park Casino was up a staggering $32 million over February.
The Plainridge totals for this year are averaging more than $175 million a month and is showing huge gains for this year in revenues and tax payments.
Plainridge paid the state $1.1 million more in March than in February.
Figures reveal Plainridge paid $7.8 million in taxes to the state compared with February’s $6.1 million.
These figures bode well for Encore when, and if, the casino opens on June 23.