By Josh Resnek
The Massachusetts Gaming Commission reported last week that since the state’s three licensed gaming facilities opened in 2019, over $1 billion in taxes have been paid to the state and distributed to the cities and towns.
Notwithstanding that amazing statistic, the MGC reported February figures that remained in a flat line compared with figures from October and November.
Encore did about $54.7 million in February as compared with $53.9 million in January.
Both those monthly figures were almost $9 million down from previous months when Encore was racking up huge numbers.
The downward trend is not easily explained and analysts aren’t exactly sure why people are gambling less except to blame it on inflation.
“With gasoline costing an arm and a leg, Disposable income has dropped among the gambling population. That and other rising costs for everything from groceries to heating fuel, and automobiles, to goods and service of all kinds, is obviously having an impact on those considering going to the casino to gamble – and it shows for the past two months,” said a local gaming analyst who wished to remain unnamed.
Total revenues for all three locations – Encore, MGM Springfield and Plainridge Park totaled $83 million in February as compared with $82 million in January.
At Encore, table games brought in $23.6 million while slots generated $31 million during February.
In January, those figures were $26 million for table games and $27.8 million for slots.
The uptick in slots revenue is significant from January to February.
This is apparently a sign that the high rollers aren’t rolling as much at Encore as they did in November and December when Encore cranked out huge numbers with successive over $60 million months.