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February 20, 2024

State passes $100M in sports bet tax collections

Image | Courtesy of Google Maps Encore Boston Harbor casino in Everett

January gambling activity generated about $93.54 million in revenue for the state's three casino-style facilities and another $71.13 million in revenue for sports betting companies, all of which translated into about $40.4 million in tax revenue for the state.

Monthly revenue data released Thursday by the Mass. Gaming Commission show that Encore Boston Harbor in Everett again dominated the casino side of the state's legal betting world, hauling in more than $28 million in table game revenue and an additional $32.9 million in slot machine revenue. MGM Springfield, meanwhile, took in $4.56 million from its table games and $16.15 million from its slots. The slots-only Plainridge Park Casino in Plainville counted $11.9 million in revenue last month, the commission said.

Encore's physical sportsbook also outperformed those at MGM or Plainridge last month, counting $694,456 in taxable sports betting revenue compared to $324,476 at Plainridge and $188,782 at MGM Springfield.

Roughly 98 percent of all sports betting activity in Massachusetts last month was conducted online. Mobile operators took bets worth about $638 million on January sporting events compared to $13.76 million in bets placed at physical sportsbooks. The local company DraftKings took almost half of those online or mobile bets, a total of $311.4 million last month. FanDuel had the second largest January handle at $194 million.

Since casino-style gaming started here in 2015, Massachusetts has raked in $1.649 billion in taxes and assessments from casino operations. And since legal sports betting started a year ago, that activity has generated $108.04 million in total taxes and assessments, the Gaming Commission said.

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