The Massachusetts Gaming Commission Releases March 2024 Casino and Sports Wagering Revenue

The Massachusetts Gaming Commission reported today that the month of March 2024 at Plainridge Park Casino (PPC), MGM Springfield (MGM) and Encore Boston Harbor (EBH) generated approximately $111.07 million in Gross Gaming Revenue (GGR).

Additionally, approximately $46.23 million in taxable sports wagering revenue (TSWR) was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of March.

Gross Gaming Revenue (casino gaming) PPC, a category 2 slots facility, is taxed on 49% of GGR. Of that total taxed amount, 82% is paid to Local Aid and 18% is allotted to the Race Horse Development Fund.

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$55million in lost tax revenues to impact city moving forward next 3 years

By Josh Resnek

The administration has revealed to the Boston media that the city of Everett will be losing $55 million or more in tax revenues over the next 3 years because of the changing valuations and ownership of properties formerly used for energy production and fuel storage that have either closed and or have been sold.

The revelation is apparently intended to show the efficacy of the state approving the Kraft’s proposal to build a professional soccer stadium on the 43 acre site across from the casino on lower Broadway where Everett meets the Mystic River shoreline.

Environmental advocacy groups are opposed to the project because it would allow for “spot zoning” and would impact negatively the mandated marine uses in this area of Boston harbor.

The mayor’s of Boston and Somerville have also expressed concerns.

The shortfall was detailed last week.

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The changed tax situation

Everett’s inability to attract new industries marks a changing of the times when it comes to the city’s income.

Most major industries have already left the city.

Also, there is virtually no open land left for industries to occupy.

Fifty years ago, the city’s taxes were largely paid by long term industries that employed thousands of residents.

At the same time, many of those most notable industries – like Monsanto and Exxon and Market Forge – utterly and completely polluted the land they owned.

Monsanto was the city’s largest employer and its biggest polluter.

Then came the Boston Harbor Hotel and Casino, and a $2.3 billion cleanup and improvement of land that was polluted almost twelve feet deep.

Across the street from the casino, on the eastern side of Broadway, the former Mystic Generating site which has been sold to the casino will be closing in May and then will be coming down, with pollution mitigation and the appropriate non-industrial development of the land.

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$42 million in ARPA funding waiting for appropriate reasons to be used

Leader Herald Staff

Not much has changed with regard to the city’s proposed uses of ARPA funding, the money provided to the cities and towns across the land, to aid in rebuilding what was broken by the COVID-19 pandemic.

Last November, the mayor’s chief of staff Erin Deveney came before the city council and discussed the status of the funding.

Last week, Deveney appeared again to discuss the same thing with the “new” council.

Time is running out for the use of the funds, which require an exacting approval process. The Federal government has made stringent demands on exactly how and for what the funds may be used or not used at all.

Presently, $11.2 million has been lined up for approval to be dispensed.

There is an advisory board that has met several times to explore different

programs that might be available for ARPA funding.

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