Massachusetts Gaming Commission published revenue figures for casino and sports wagering for March
Thursday 18 de April 2024 / 12:00
2 minutos de lectura
(Massachusetts).- According to a study by The local Gaming Commission in 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).
The Massachusetts Gaming Commission announced that in March 2024, Plainridge Park Casino (PPC), MGM Springfield (MGM), and Encore Boston Harbor (EBH) collectively generated around $111.07 million in Gross Gaming Revenue (GGR).
Additionally, approximately $46.23 million in taxable sports wagering revenue (TSWR) was generated acrossthe 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. MGM Springfield and Encore Boston Harbor, category resort-casinos, are taxed on 25% of GGR; those monies are allocated to several specific state funds asdetermined by the gaming statute.
To date, the Commonwealth has collected approximately $1.709 billion in total taxes and assessments fromthe casino operations of PPC, MGM and Encore since the respective openings of each gaming facility.
View comprehensive revenue reports for each gaming licensee here. MGC issues monthly revenue reports on the 15th of each month or next business day
Sports Wagering Revenue
EBH, MGM, and PPC are licensed as Category 1 Sports Wagering Operators, which allows them to operate a retail sportsbook at their respective property. Category 1 operators are taxed on 15% of TSWR. BetMGM, Betr, Caesars Sportsbook, DraftKings, Fanatics Betting & Gaming, FanDuel, Penn Sports Interactive, and WynnBet are licensed as Category 3 Sports Wagering Operators, which allows them to operate a mobile or online sportsbook. Category 3 operators are taxed on 20% of TWSR.
Of the total taxed amount for all operators, 45% is allotted to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Local Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.
To date, the Commonwealth has collected approximately $127.77 million in total taxes and assessments from the sports wagering operations of licensed operators since sports wagering began in person on January 31, 2023 and online on March 10, 2023.
When an operator’s adjusted gross sports wagering receipts for a month is a negative number because the winnings paid to wagerers and excise taxes paid pursuant to federal law exceed the operator’s total gross receipts from sports wagering, the Sports Wagering Law allows the operator to carry over the negative amount in tax liability to returns filed for subsequent months.
Categoría:Others
Tags: Sin tags
País: United States
Región: North America
Event
GAT EXPO CARTAGENA DE INDIAS 2024
09 de April 2024
AI: The new ace in the hole for the games of chance industry
(Cartagena, Exclusive SoloAzar).- One of the conferences held within the recent GAT EXPO, brings to the table a topic that is on everyone's lips: Artificial Intelligence (AI). This year, the panel entitled “Artificial Intelligence in the Entertainment Industry” was held with the presence of prominent experts from Latin America.
Tuesday 30 Apr 2024 / 12:00
Why to invest in Paraguay?
(Cartagena de Indias, Exclusive SoloAzar) - During the conferences organised at the GAT EXPO 2024 fair, Dr. Carlos Augusto Liseras Osorio, president of the National Gaming Commission, (CONAJZAR, in its original) asked this tacit question, to highlight the advantages and benefits of investing in the Republic of Paraguay, and also notifying the audience about the upcoming tenders for 7 land-based casinos in that country.
Monday 29 Apr 2024 / 12:00
Novomatic's innovative offerings and market insights: a recap of our presence at GAT Expo 2024
(Cartagena de Indias, SoloAzar Exclusive).- Manuel Del Sol - CEO at NOVOMATIC Gaming Colombia, gave an overview during the interview with SoloAzar, focusing on the innovative products presented at the event, the good reception from visitors, insights on the Colombian iGaming market, the latest technological trends incorporated into the platform, and the firm's approach to regulatory adaptation in the Latam market.
Friday 26 Apr 2024 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.