Encore generating mega millions
By Josh Resnek
Gross gaming revenue in Massachusetts reached $1.1 billion in 2022, generating $311.5 million in tax revenues, according to the MGC annual report released by the state’s gambling regulatory commission last week.
Of that amount generated and taxes paid, the Boston Harbor Casino and Hotel located in Everett was responsible for about $700 million of the $1.1 billion of income and additionally, paid approximately $175 million into the state treasury as taxes.
Bottom line – Encore casino and hotel is the Goliath of the three state sanctioned gaming venues now operating.
Its revenue figures dwarfed those of MGM Casino in Springfield, and the slots parlor in Plainfield. Suffice to say, Everett’s casino is one of the largest grossing businesses in Massachusetts and is as well, one of the largest taxpayers in the state.
According to the MGC annual report:
The Community Mitigation Fund, which provides grant funding to eligible municipalities and government entities located in the vicinity of Massachusetts casinos to advance needs in transportation, community planning, workforce development, and public safety initiatives, awarded approximately $10.6 million in grants in FY22. Additionally, the MGC’s Investigations and Enforcement Bureau helped intercept $3.6 million from unpaid taxes and child support payments.
Two major focuses of the MGC are promoting responsible gaming and providing tools for patrons to manage their play in the form of programs like the MGC’s Voluntary Self-Exclusion (VSE) and PlayMyWay. During FY22, 1,150 individuals enrolled in the MGC’s VSE program, which allows people to voluntarily exclude themselves from casino gambling – and now sports wagering – for a predetermined amount of time. More than 31,000 people also enrolled in PlayMyWay, a free budgeting tool that lets players track their play and receive automatic notifications as they get closer to their preset budget amount. PlayMyWay, now available at all three Massachusetts casinos, launched at MGM Springfield at the end of March in FY22.
Throughout FY22, the Commission continued to monitor legislation and prepared for the possibility that the MGC’s regulatory responsibilities would expand if sports wagering were legalized in the Commonwealth, which occurred near the start of FY23 with the signing of An Act to Regulate Sports Wagering.
“My fellow commissioners and I are proud of what we have accomplished over the last fiscal year on behalf of the residents of the Commonwealth and invite the public to continue to review those efforts,” said MGC Chair Cathy JuddStein. “This Annual Report details the hard work of the entire team at the MGC, and I want to commend them all for their consistent, thorough, and transformative efforts and their genuine commitment to public service during this fiscal year and in the busy period to come.”