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Sportsbook

Sports betting generates US$ 4.55 M in tax revenue for Massachusetts in August

Monday 18 de September 2023 / 12:00

2 minutos de lectura

(Boston).- Bettors put nearly $315 million on the line in wagers on sporting events that took place last month, producing more than $22.7 million in taxable revenue for operators and about $4.55 million in tax revenue for the state.

Sports betting generates US$ 4.55 M in tax revenue for Massachusetts in August

The Mass. Gaming Commission said Friday that sports wagering and casino-style gambling combined in August to generate more than $120.6 million in taxable revenue for operators and $32.16 million in revenue for the state. Gambling at the state’s three casino-style facilities -- the Plainridge Park Casino slots parlor, MGM Springfield and Encore Boston Harbor -- was responsible for the great majority of both the operators’ revenue ($97.9 million or 81.2 percent) and the state’s tax take ($27.62 million or 85.8 percent).

There was $314.9 million wagered on approved sporting events that took place in August, up from a handle of $294.9 million in July but still down from the $332 million wagered on June events and the state’s high water mark of $568.2 million wagered on March events.

Almost all of the betting activity (97.6 percent) in August took place on the eight mobile or online platforms last month, the Gaming Commission said. Those companies were taxed on $22.55 million of the $23.3 million they counted in revenue. That generated state revenue of $4.51 million for the month.

The sportsbooks at the state’s three brick-and-mortar gaming centers took in about $177,200 in revenue from in-person sports wagering, about $157,780 of which was taxable. That spurred another $32,356 in tax revenue for the state last month.

On the casino side, Plainridge Park produced more than $13 million in gross gaming revenue, MGM Springfield generated about $23.5 million and Encore produced $61.3 million in revenue, the Gaming Commission said. That works out to $27.62 million in state tax revenue for the month.

To date, Massachusetts has collected $50.35 million in total taxes and assessments from sports wagering operations, which launched in January, and $1.515 billion in total taxes and assessments from casino operations, which launched in mid-2015.

Categoría:Sportsbook

Tags: Sports Betting, Sportsbook ,

País: United States

Región: North America

Event

GAT EXPO CARTAGENA 2025

28 de April 2025

26th edition of GAT Expo Cartagena closed with great success

(Cartagena de Indias).- The most important fair for the gaming, entertainment, technology and Esports industry in Latin America ended with an excellent commercial balance and testimonials of satisfaction from suppliers and operators, local and international authorities, associations and the main trade unions in the region.

Friday 02 May 2025 / 12:00

Colombian Olympic Committee, GAT Expo, and Colombian Official Esports Announce Historic Partnership to Promote Esports as an Olympic Discipline in Colombia

(Cartagena) - The Colombian Olympic Committee (COC) and GAT Esports have sealed a strategic partnership to promote esports as part of the country's professional sports ecosystem. The announcement was made at a formal ceremony held at the gaming industry products and services exhibition hall, attended by Marco Emilio Hincapié, President of Coljuegos, COC executives, José Aníbal Aguirre, CEO of GAT Esports, media, and special guests.

Wednesday 30 Apr 2025 / 12:00

GAT Expo 2025: Novelties, technology, innovation, and high-level networking in the magical city of Cartagena

(Cartagena, SoloAzar Exclusive).- Today concludes GAT Expo Cartagena 2025, which has taken place this week with the presence of 23 countries and more than 70 international brands in the historic city of Cartagena de Indias, with its cobblestone streets, flower-filled balconies, and centuries-old walls.

Wednesday 30 Apr 2025 / 12:00

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