Massachusetts casinos net $26M in tax revenue

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More than $92 million in gaming revenue was collected in August at the state’s three licensed casinos, the state’s gaming commission announced Wednesday.

The Massachusetts Gaming Commission reported it has collected $869 million in total taxes from the three gambling entities this year, according to the release of the August 2021 Gaming Report, from Encore Boston Harbor, MGM Springfield and Plainridge Park Casino.

The total taxes, according to the report, for the three casinos brought in $26.2 million into the state’s coffers.

Encore Boston Harbor, which is subject to 25% tax rate, brought in $57.9 million for the month. The slots generated $32.4 million and table games captured another $25.4 million. A total of nearly $14.5 million in taxes was collected.

MGM Springfield, which is subject to 25% taxes, brought in $21.8 million in revenue. Slot machines accounted for $16.8 million, while table games brought in $4.9 million. More than $5.4 million in tax revenue was generated from the casino.

Tax revenues collected from Encore Boston Harbor and MGM Springfield, according to the report, are allocated to specific state funds as determined by the state’s gaming statute.

Plainridge Park Casino, which is subject to a 49% tax rate, brought in $12.7 million at its slot machines. Total tax revenue generated was $6.2 million.

Tax revenues collected from Plainridge Park Casino goes toward local aid and the Race Horse Development Fund.

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Tags: States, News, Massachusetts, Casino, Tax

Original Author: Brent Addleman, The Center Square

Original Location: Massachusetts casinos net $26M in tax revenue

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