Massachusetts is home to three popular casinos. These properties have seen fluctuating revenue figures throughout 2021. Reports surfaced this week claiming that casino revenue in Massachusetts decreased over the month of November.
This should not come as a massive shock. Casino revenue tends to drop around the winter months. Today, we’ll talk about how much money the gambling properties here managed to bring in over the month.
Let’s get into it!
Here’s a Look at Casino Revenue in Massachusetts Over November
For many years, Massachusetts banned almost all forms of traditional gambling. This changed about a decade ago when lawmakers approved a measure to allow commercial casinos in the state. Three casinos are now operating in the state, including the Encore Boston Harbor in the Boston area.
New reports on casino revenue in Massachusetts over November are beginning to surface. It has been confirmed that these casinos experienced a slight revenue drop. That seemed almost inevitable when considering the record-breaking month these properties had in October.
The state’s total casino handle came out to $703,285,617 over the month. This represents a 6.2% decrease when compared to the handle in October. The casinos here also brought in $87,810,200 over November, down from the $92 million in GGR experienced in October.
It’s hard to say this is any kind of failure for Massachusetts’ casino industry. $87 million is still an impressive revenue figure over a single month. That is especially true when considering just how low revenue earnings were from these casinos one year ago.
The entire gambling in Massachusetts has been changing over the past decade. Let’s take a look at some of the new gaming that are expected to become available here soon.
Massachusetts Lawmakers Continue Pushing for the Legalization of Sports Betting
A huge number of states chose to formally legalize sports betting in 2022. That includes several states in the Northeastern region of the country. Massachusetts is now one of the only states in this area without regulated sportsbooks up and running.
Many lawmakers are growing annoyed by this fact. States across the US are earning a massive amount of money from their regulated sportsbooks every single month. Officials in Massachusetts are tired of missing out on these impressive revenue figures.
Fortunately, 2022 appears to be the year that sports betting becomes available in this state. The Senate and House nearly approved bills to launch this industry in 2021. The issue now has bipartisan support and it seems likely that the first sportsbooks will go live in Massachusetts before the end of next year.
There is reason to believe that this state’s sports gambling industry will be hugely successful. Massachusetts is known for having some of the most passionate sports fans in the country. It’s here that major professional teams such as the Boston Red Sox and New England Patriots are based.
Casino revenue in Massachusetts is likely to remain high. The addition of sports betting will bring in valuable tax revenue for the state each month. Stay tuned for updates on the launch of sports betting here as the months go on.
More States Report Gambling Revenue Surges Over November
The entire US gambling industry has been growing throughout 2021. That includes the casino and sports betting industry. Some of the largest gaming hubs in the United States have recently launched new casinos and sportsbooks and revenue figures continue to increase.
Many states reported impressive gaming revenue growth in November. That includes Iowa and Indiana. Both states have sports gambling options available and both experienced huge revenue surges from these regulated betting platforms.
Illinois is quickly turning into one of the country’s top gambling destinations. This past November, casino revenue took a slight 4.7% decrease when compared to October. Fortunately, gambling revenue here remains far above what it experienced throughout 2020.
Most analysts expect to see huge gambling revenue surges in 2022. Places like Las Vegas and Atlantic City are preparing for fresh waves of tourism. Atlantic City casinos may even experience a major tax break that helps them save revenue leading into next year.
Are you surprised to see that casino revenue in Massachusetts dipped in November? Do you expect to see sports betting legalized here in 2022? Let us know in the comments section below.