Massachusetts Passes $1B In Casino Tax RevenueState Calls Tax Haul A 'Milestone' |
|
Casinos in the Bay State won $86 million from gamblers in February, according to figures released Tuesday by regulators.
The Massachusetts Gaming Commission said that Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor collectively had a strong month against patrons.
The month brought the state’s tax revenue from casino gambling to $1.018 billon since the three properties opened, a significant achievement for the state.
“My colleagues at the MGC and I are pleased to highlight this milestone," said MGC Chair Cathy Judd-Stein. “When the legislature passed the expanded gaming act in 2011, they envisioned a regulated gaming industry in the Commonwealth that would serve as an economic driver while promoting responsible play.”
Plainridge Park Casino, a slots facility, is taxed on 49% of gross gaming revenue. MGM Springfield and Encore Boston Harbor are taxed on 25% of GGR.
“Just over 11 years since this law was signed, the Commonwealth has collected over $1 billion in total taxes and assessments from casinos operating in Massachusetts," Judd-Stein added.
“This revenue has and continues to benefit the Massachusetts economy by bolstering local aid, funding transportation and infrastructure projects, ensuring essential community mitigation initiatives are backed, and that the health and safety of the industry and those who engage with it are a top priority.
February’s gaming revenue of $86 million was up from $67.4 million in February 2021. The casinos were still impacted by the pandemic in early 2021.
The casinos generated $1.01 billion in gaming revenue in 2021, an all-time high.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
