November 16, 2018

MGM Springfield Oct. revenue dips 17%

PHOTO | Contributed
PHOTO | Contributed
MGM's new $960 million casino in Springfield.

MGM Springfield posted a 17.6 percent drop in gaming revenues last month, its second full month in operation, according to the Massachusetts Gaming Commission.

The $960 million casino and entertainment complex, which opened Aug. 24, recorded $14.6 million in October from slots and $7.6 million from table games, the commission said Thursday. Last month's $22.2 million gaming haul is down from the $27 million it netted in September.

MGM's gaming revenue is taxed at 25 percent. The tax contribution is earmarked for several state funds including local aid, transportation infrastructure, education and others.

The Springfield casino is expected to stiffen competition for Foxwoods Resort Casino and Mohegan Sun.

The Connecticut tribal casinos on Thursday each reported a decrease in gaming revenue and wagers last month. That's the four consecutive revenue decline for both casinos.

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