December 18, 2018

MGM Springfield's Nov. gaming revenues down almost $1M

Photo | Contributed
Photo | Contributed
MGM Springfield debuted Aug. 24.

MGM Springfield posted a roughly 4.5 percent month-over-month decline in November gaming revenues, the $960 million casino's third full month in operation, the Massachusetts Gaming Commission said.

The commission, MGM Springfield's regulator, on Monday said the casino last month netted $13.3 million from slots, down about 8.5 percent from the $14.6 million recorded in October.

MGM Springfield also recorded $7.8 million in table game revenues in November, a 3.3 percent increase vs. October.

In total, gaming revenues fell almost $995,000, or about 4.5 percent, to more than $21.2 million. Debuting Aug. 24, the casino's gaming revenues have steadily declined over the last three months, with MGM recording $26.9 million in September and $22.2 million in October.

Taxed at 25 percent, MGM Springfield contributed about $5.3 million to the state of Massachusetts in November, the commission said.

MGM Springfield is projected to take a share of profits away from Connecticut's two tribal casinos, Foxwoods Resort Casino and Mohegan Sun.

Mohegan recently reported a fifth consecutive month of declining gaming revenues, but casino President and GM Ray Pineault said the declines were less that they projected.

Pineault said Mohegan's hotels and new $80 million Earth Expo & Convention Center have been "performing well," adding that casino operators are "not at all disappointed" in the lower gaming revenues.

Foxwoods Resort Casino has also reported declining gaming revenues since July. The Mashantucket-based casino last week reported an 8 percent decline in November slot revenues.

MGM recently began providing Connecticut residents a ride to the Springfield casino through through nine bus stops scattered statewide.

Under the $20 service, those 21 and older receive a $20 gaming voucher and $10 food credit redeemable at the casino's South End Market.

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