All Casinos in Massachusetts Are Remaining Closed

The US land-based casino industry remains completely shut down to the spread of Covid-19. Initially, lawmakers in Massachusetts announced that gambling venues would be closed until March 29th. New reports are coming out that indicate all casinos in Massachusetts are remaining closed for considerably longer.Massachusetts State Symbol

No one really knows when the casino industry will open up again. As of now, the United States has the third-most infections in the world. Today, we’re going to talk about how the situation is unfolding.

Let’s get into it!

Nearly 79,000 Covid-19 Cases Have Been Confirmed In the United States

Within just a few weeks, the number of coronavirus in the United States has skyrocketed. According to new reports, more than 79,000 individuals have been officially confirmed to have Covid-19. Some states are experiencing major outbreaks.

New York is currently the epicenter of the United States epidemic. More than 37,000 cases have officially been confirmed in this state. Just today, an additional 4,292 cases have been reported in this state.

Rates in Louisiana are beginning to jump very quickly. At the moment, more than 2,300 cases have been confirmed here. In the past 24 hours, an additional 510 cases were announced. New Orleans, in particular, is facing a major surge in new cases.

Massachusetts is seeing its rates increase, too. By tomorrow, more than 2,000 individuals here are likely to have the virus. State officials here have closed down many businesses to help avoid major infection surges.

The coronavirus has already taken a major toll on the land-based casino industry. It appears that things are not improving anytime soon, too.

Casinos in Massachusetts Will Remain Closed Until At Least April 7th

As we just mentioned, lawmakers in Massachusetts first announced that the state’s casinos would be closed until March 29th. Most felt this shutdown would last for much longer. Infection rates continue to increase and until that changes, casinos are likely to remain completely closed.

This week, the state’s Gaming Commission announced that all casinos in Massachusetts will now stay closed until at least April 7th. This applies to all three of the casinos here, including the MGM Springfield, Encore Boston Harbor, and Plainridge Park Casino. State commissioners unanimously voted to keep these casinos closed.

Gayle Cameron, one of the commissioners who approved these measures, believes these measures are necessary right now.

“It’s a sound plan, following the governor’s order and then evaluating ahead of time so that if there are other necessary arrangements we have to make, we will be prepared to do that,” he said.  

Officials at MGM Springfield also released a statement on the extended closure to the media this week.

“The health and safety of our employees, their families, and the community is our number one concern. As COVID-19 continues to place unprecedented demand on the region, MGM Springfield will remain engaged with the local community to support frontline workers, organizations and residents most impacted.”

Online Casino Gambling is Growing More Popular

Based on the way things are going, the US land-based casino industry will be closed down for months. Infection rates continue to increase around the country. Even Las Vegas, the gambling hub of the United States, has been forced to close down all of its casinos until further notice.

This is taking a serious toll on this city. New reports indicate that these gambling venues are losing millions of dollars a day. Some claim they can only survive a few more months before going bankrupt.

As a result, online casino gambling is growing more popular all around the country. There are now a huge number of fantastic online casinos in Massachusetts. Many of them offer just as many games as the biggest land-based casinos in the state.

These gambling websites are going to continue to get more popular. Most analysts predict that casinos will remain closed until the virus is under control. That seems unlikely to happen anytime soon.

Casinos in Massachusetts are closed right now. It’s unclear how long these venues will be able to survive while shut down. Stay tuned for more updates over the next few months!

Cases of the Coronavirus in Casinos Are Appearing

Covid-19, the novel coronavirus that’s become a global pandemic, continues to spread around the United States. It’s likely that several thousand individuals are now infected in the country, yet exact rates are completely unknown. This week, more cases of the coronavirus in casinos are beginning to appear.Encore Boston Harbor Hotel-Casino

The gambling industry is already taking a major hit. Additional cases aren’t helping to make things any better. Today, we’re going to discuss the way this new virus continues to affect the world.

Let’s get into it!

More Covid-19 Cases Confirmed Around the US

In early March, very few cases of the novel coronavirus had been confirmed in the United States. Less than two weeks later, we now have at least 1,200 cases and likely many thousands more that have not been confirmed. Every day, more states announced additional cases.

Today, for example, Kansas and Georgia announced their first deaths from the virus. Alaska revealed its first case. Nevada has cases already, too. It’s become clear to health officials that early testing efforts in the country failed and we’re now dealing with the consequences. 

Several states are being hit hard. Washington is still considered the worst-affected state with more than 450 cases and 31 deaths. California is also seeing a considerably steep rise in infections.

This will not slow down anytime soon. In fact, health experts now feel the US is on a similar trajectory as Italy. If that’s correct, the country will soon begin seeing its hospitals put under extreme strain.

The sky is not falling, though. If the correct measures are taken, the country will be able to better contain the virus and hopefully, a vaccine is developed to protect the public. For now, we’re having to wait as more infections are reported.

More Cases of the Coronavirus in Casinos Pop Up

In 2013, lawmakers in Massachusetts passed a law to allow Class III casinos to begin operating in the state. Within a few years, MGM Resorts International opened the state’s first casino. A few years after that, Wynn Resorts opened the Encore Boston Harbor in Everett, near Boston.

According to new reports, an individual who spent time in the Encore Boston Harbor has tested positive for the coronavirus. This is exactly what major casino-resort companies had feared. The Massachusetts Gaming Commission has already released a statement about the situation.

“DPH recommends that Encore continue its enhanced sanitization practices.  Additionally, Encore has reported that, out of an abundance of caution, all identified individuals have agreed to self-quarantine measures. Public health authorities have informed the MGC and Encore that, based on their review of the facts, the individual was asymptomatic (not exhibiting symptoms) on March 5.  Consequently, DPH has advised that the risk of exposure to COVID-19 by persons who came into contact with this individual at Encore is minimal.” 

Despite new cases of the coronavirus in casinos within Massachusetts, the state’s gambling industry continues to operate. How much revenue these gambling establishments are earning right now is unknown.

This is a troubling time and more casinos are likely to report cases over the next few weeks. In time, states may decide that it’s time to ban all casinos from allowing the public in.

Future of the US Casino Industry

As you might expect, casinos around the country are already seeing their numbers drop. As more cases of the coronavirus are announced, less individuals are choosing to visit crowded areas such as casinos. Some fear that the entire casino industry here is in danger of failing.

Just days ago, reports surfaced that an individual with the coronavirus had visited The Mirage casino-resort in Las Vegas. The city’s mayor recently claimed that media reports of the virus were significantly damaging the tourism industry here.

That doesn’t mean it’s impossible to play casino games, though. There are still many online casino sites in the US that are operating. These allow you to play games from anywhere with an internet connection.

It seems likely that the US online casino industry may grow over the next couple of months.

This is a very unusual time for the country. The spread of this virus is almost unprecedented and scientists are still trying to learn about its effects.

Time will tell how the news additional cases of the coronavirus will affect the country’s gambling industry. Stay tuned for updates over the next few months!

Plans for a Gambling Venue in Southeast MA Take a Step Forward

For now, only three casinos are operating in the state of Massachusetts. One is located in Everett, near Boston. The other is found in Springfield and another is located in Plainville. Recently, officials in a different part of the state began pushing for the right to open another casino. It may be some time before a gambling venue in Southeast MA is able to operate, though.Massachusetts State Symbol

This state’s gambling industry is in an unusual place. Today, we’re going to talk about how the current casinos here are performing. We’ll also look at the likelihood of this new casino opening in the future.

Let’s get into it!

The Casino Competition in Massachusetts Continues

Not long ago, Massachusetts had no gambling venues operating. Lawmakers here took steps to ban traditional casino gambling. Finally, in 2011, state officials passed a set of laws to allow three land-based casinos to start operating.

The first to open was the MGM Springfield, run by MGM Resorts International. At first, this venue was expected to be hugely successful. As time went on, this casino resort began to lose a significant amount of revenue.

Part of the reason for this revenue decline was the opening of the Encore Boston Harbor, owned by Wynn Resorts. This new casino captured a huge portion of the state’s gambling market, including many individuals who previously made bets inside the MGM Springfield. Since opening, this venue has earned more revenue than all of the other state’s gaming properties.

Things began improving for MGM Springfield in January. That month, this property saw its revenue increase by $2 million. The Plainridge Park Casino, MA’s third gaming venue, had a revenue increase of $1 million.

Not everyone is pleased with the way things are. Many individuals in parts of the state without a gambling venue feel the laws set in place are unfair. Here’s what’s happening with this situation.

New Push for a Gambling Venue in Southeast MA

As of now, only three casinos are legally able to operate in Massachusetts. Some state officials feel this is unfair. Back in October, a new bill was introduced to allow a new gambling venue in Southeast MA to begin operating.

The South Shore Chamber of Commerce Board of Directors recently endorsed this bill. Peter Forman, South Shore Chamber President and CEO, commented on these plans to the media this week.

“We find it troubling that Southeastern Massachusetts is almost effectively blocked under current law from even considering a gaming option,” he said. “Your legislation will enable an open and competitive process that will lead to the best possible solution for the region, one that compliments the tourism industry and the region’s economic strength.”

Promoting tourism in this area is one of the main reasons why people are pushing for a gambling venue in Southeast MA. Under the current bill, the state’s Gaming Commission could offer a slots-only license for this new property.

There are still many steps that need to be taken for this venue to be approved. Most analysts feel it will not begin operating for at least a year. It will be interesting to see how lawmakers feel about these new plans.

Coronavirus Already Affects Massachusetts Casinos

Back in December, a new coronavirus called Covid-19 emerged in Wuhan, China. Since that time, the virus has spread to countries all over the world and has affected more than 100,000 individuals. The death toll from Covid-19 is now nearing 4,000 individuals.

There are serious concerns that the virus will become uncontainable. As of now, efforts to prevent its spread have been largely ineffective. Unsurprisingly, many people are choosing not to travel due to fears of this virus.

It’s also taking a serious toll on the country’s gambling industry. People are less willing to gamble inside casinos, where a huge number of people are crammed into a small area. According to some reports, the casinos in Massachusetts are already experiencing revenue drops due to the coronavirus.

Interestingly, more people are now choosing to play casino games online. Sites like Bovada, which offer a huge number of different casino games online, are growing more popular every single month. This trend is likely to continue as the virus spreads.

We’ll need to wait and see whether or not the gambling venue in Southeast MA is approved. Stay tuned for updates over the next few months!

Slots at Encore Boston Harbor Briefly Shut Down

Massachusetts is now home to a large and successful casino industry. One of the best is Encore Boston Harbor, owned and operated by Wynn Resorts. This week, the slots at Encore Boston Harbor were briefly shut down due to a computer issue.Encore Boston Harbor Hotel-Casino

It’s always scary when a casino suffers some type of issue with its computer system. Today, we’re going to look at what caused the slots to shut down. We’ll also look at how the Encore is performing against some of the other casinos in Massachusetts.

Let’s get into it!

History of Massachusetts’ Casino Industry

Just a decade ago, almost no legal gambling options were available in Massachusetts. Lawmakers in this state worked hard to actively ban most forms of wagering. In 2012, residents here decided to officially legalize land-based casinos.

Over the next few years, lawmakers here began coming up with specific regulations for this new industry. The state’s gambling commission was tasked with issuing gaming licenses. In 2018, MGM Resorts International opened the first casino here.

This venue, called MGM Springfield, was expected to be hugely successful. Unfortunately, this has not necessarily been the case. In 2019, Wynn Resorts opened Encore Boston Harbor in the city of Everett, near Boston.

Massachusetts’ casino market is still growing. As of now, only three gaming venues are operating in the state. It’s likely that more will begin opening here over the next couple of years.

Encore Boston Harbor is without a doubt the most popular casino in the state right now. Unfortunately, it suffered a computer issue this week that affected players.

Slots at Encore Boston Harbor Fail Due to Computer Issue

There are nearly 3,000 different slot machines inside Encore Boston Harbor. These games help to bring the casino millions of dollars in revenue every single month. An issue popped up this week, causing these machines to temporarily shut down.

According to Boston 25 News, a system outage this week caused the slots at Encore Boston Harbor to fail. This left hundreds of gamblers without money after depositing cash into the slot machines. Obviously, it caused an uproar inside the venue.

Officials within Encore Boston Harbor commented on the news to the media late Friday night.

“We experienced a brief system outage with our slot ticketing system in which we reverted to hand-paid jackpots. The issue has been resolved and we are paying all winners,” the statement said. 

Customers claim that the casinos began operating again at around 9:30 pm.

This is the last thing this casino needed right now. Recently, revenue at this gaming venue began to drop. Is this a sign that MGM Springfield is beginning to take over?

MA Casino Revenue Begins to Fluctuate

Not long after Encore Boston Harbor opened to the public, it became the most popular venue in the state. It captured a huge share of the state’s gambling market and earned significantly more revenue than any other casino.

In January, things took a slight turn. That month, it was the only casino in the state to experience a revenue drop. The Encore earned $6 million less than what it brought in the month before.

Interestingly, MGM Springfield’s revenue surged. Reports indicate that the Springfield casino earned $21 million in January, up $2 million from December. For many, it was surprising to see revenue here begin to increase.

MGM Springfield has been a major disappointment for MGM Resorts over the past couple of years. The casino has generated significantly less money than initially expected. MGM continues to invest money here, though, and it now appears that the company’s hard work is paying off.

The slots at Encore Boston Harbor are back up and running. Officials at Wynn Resorts will want to ensure this does not happen again.

Stay tuned for more Massachusetts casino news over the next few months!

Revenue at MGM Springfield Jumped in January

Massachusetts’ casino industry continues to change. After months of disappointing results, it appears revenue at MGM Springfield is finally increasing. It’s fantastic news for the owners of this venue, who have invested millions of dollars to bring in more players.Revenue Increase Figure

Today, we’re going to discuss the history of the MGM Springfield Casino. We’ll also look at what this recent spike means for the property moving forward.

Let’s get into it!

MGM Springfield Has Been a Major Disappointment

Since 2011, Massachusetts has given three casinos permission to operate in the state. The first gambling venue to open here was MGM Springfield. MGM Resorts International built this property, which many believed would be extremely lucrative.

It was widely believed that Massachusetts would become one of the country’s next major gambling hubs. A huge number of individuals here make trips to Atlantic City in order to gamble inside casinos. With local casinos, this would no longer be necessary.

At first, MGM Springfield proved to be successful. As time went on, however, visitation here dropped. In June of 2019, Encore Boston Harbor opened up near Boston and captured a huge percentage of the state’s casino market.

Many gamblers who previously played inside MGM Springfield quickly made the switch to the Wynn Resorts-owned casino. As a result, revenue at MGM Springfield began to plummet. It seemed like just a matter of time before this casino was sold to the highest bidder.

That hasn’t been the case, though. Despite poor revenue figures, MGM Resorts continues to invest money here. Now, it appears that decision may be paying off.

Revenue at MGM Springfield Finally Increases

The fact that MGM Resorts continued to invest in their Massachusetts property was a little surprising. On the surface, it looked like this was a property that was bleeding money. Perhaps company officials saw something no else did.

Recent reports indicate that gambling revenue at this property officially increased in January. The casino’s gross gambling revenue was $20.6 million, compared to just $18.9 million in December. It’s not a massive increase, yet company officials have to be pleased.

Initial estimates predicted that revenue at MGM Springfield would be close to $34.8 million per month. Unfortunately, the most this property ever brought in during a single month was around $27 million. Overall, the casino brought in close to $252 million last year.

This wasn’t for a lack of trying, though. Back in early January, MGM Resorts decided to appoint a new president of this casino. Hope was that the change in leadership could help to turn things around. As of now, this strategy appears to be working.

MGM Springfield isn’t the only casino that experienced a revenue jump last month. Is this a sign that the state’s casino industry is in for a major change?

Plainridge Park Casino Revenue Jumps, Encore’s Drops

Right now, there are three different casinos operating in Massachusetts. As we mentioned earlier, the Encore Boston Harbor has proven to be the most successful of the three. That wasn’t the case in January, though.

Last month, the Plainridge Park Casino saw its gross gaming revenue increase by an astounding $876,913. This comes after seven straight months of revenue decreases. This venue managed to bring in around $11 million in January.

Encore Boston Harbor, however, saw its revenue drop. In January, this casino brought in $49 million. That’s down considerably from December’s $54 million. Wynn Resorts appears to be targeting more of a casual gambler demographic to help make up for these revenue drops.

The casino has also recently chosen to lower its minimum bet limit on several table games. Free parking is also beginning to be offered here. More strategies will be discussed during the company’s upcoming quarterly conference call.

Revenue at MGM Springfield officially jumped last month. Hopefully, this trend continues for the rest of the year.

Stay tuned for more Massachusetts casino news over the next few months!

MGM Springfield Continues to Disappoint

In August of 2018, MGM Springfield officially opened its doors to the public. Since that time, the Springfield, Massachusetts gambling venue has struggled to generate revenue. Officials within MGM Resorts International spoke about the low revenue figures to the media this week.MGM Springfield

This venue has been a major disappointment for one of the country’s biggest casino operators. Today, we’re going to talk about why this is. We’ll also discuss what steps MGM may take to change this downward trend.

Let’s get into it!

Massachusetts Proves to Be a Difficult Casino Market

For many years, lawmakers in Massachusetts banned all forms of casino gambling. In 2011, the state finally agreed to a set of laws that allows three new land-based casinos to open. In 2018, MGM Resorts International opened the state’s first gambling venue in the city of Springfield.

Expectations for this venue were high. Many considered Massachusetts to be one of the most lucrative new casino markets in the country. By the time MGM Springfield opened up, almost everyone agreed it would be extremely successful.

For a time, these theories were correct. MGM Springfield drew in many visitors early on and began generating serious revenue. As time went on, however, these earnings began to drop. One reason for this was the opening of Wynn Resorts’ Encore Boston Harbor casino-resort.

This new casino instantly captured a huge portion of the MA casino market. Many gamblers who previously gambled inside MGM Springfield began making the switch to the Encore. It was a tough break for MGM Resorts International, who didn’t anticipate their market to be taken over so quickly.

Despite the company’s best efforts, things don’t seem to be improving for MGM Resorts. A company official spoke about this disappointing performance to the media this week.

MGM Springfield Still Struggles to Generate Revenue

MGM Resorts International has been undergoing some massive changes in recent months. Last year, the company sold some of its biggest properties in Las Vegas. Just last week, CEO Jim Murren announced he’s stepping down.

There’s a lot to juggle here. Murren is continuing to run the company until a replacement is chosen. This week, Murren commented on the MGM Springfield property and doesn’t seem pleased with the venue’s performance.

“MGM Springfield has admittedly performed below our expectations, and we’ve recently made some changes there to better position the property,” he said. 

It’s surprising for some to hear that MGM continues to invest in this venue. Many expected the company to sell it and simply take the losses. That does not appear to be the case.

For now, MGM Resorts International wants to continue running its only Massachusetts property. With some changes, perhaps this venue can once again capture the state’s market.

Massachusetts isn’t the only area that MGM is continuing to invest in.

Macau May Soon Become Profitable Again For MGM Resorts

Macau is one of the world’s largest gaming markets. Many of the world’s top casino companies invest in property here, including MGM Resorts. Unfortunately, revenue from this territory has been dropping for more than a year.

Throughout 2019, tourism in Macau was down. The US-Chinese trade war had taken a toll on China’s economy, causing fewer nationals here to gamble. Macau relies on Chinese high rollers and as less began visiting here, revenue started to tumble.

Recently, the coronavirus has hurt this territory. As the 2019-nCoV virus spreads throughout China, less people are able to travel into Macau. Recently, officials in this territory decided to shut down all the casinos in order to prevent infections.

This casino shutdown is costing companies millions of dollars a day. It finally seems as if infection rates are beginning to even out and Macau may finally become a profitable casino market once again. Several investment groups have recommended people buy stock in MGM Resorts as the Macau situation improves.

2020 will be an important year for MGM Resorts. Hopefully, the company’s new CEO can be even more successful than Jim Murren.

Stay tuned for more casino news over the next few months!

What Changes Will MGM Springfield’s New Leaders Make?

Back in 2018, MGM Resorts International opened a brand new casino-resort in Springfield, Massachusetts. This venue, called MGM Springfield, has struggled to generate revenue ever since. MGM Resorts has made some major changes over the years, and hope is that MGM Springfield’s new leaders are able to turn things around.

MGM Springfield

There’s a lot going on with MGM Resorts right now. This company is currently involved in several major deals around the country. Today, we’re going to look at what exactly is happening with MGM’s major property in Massachusetts.

Let’s get into it!

MGM’s MA Property has Been a Major Disappointment

For many years, lawmakers in Massachusetts were against the gambling industry. The state government made it extremely difficult for any gambling operators to run in this state. Even Native American tribes, which are able to operate casinos in almost every state, are finding it extremely hard to open casinos in MA.

In 2011, things began to change. That year, lawmakers here officially passed the Expanded Gaming Act, paving the way for three different commercial casinos to operate in the state. Since that time, two major casinos have opened.

As we already mentioned, MGM Resorts International opened MGM Springfield in 2018. The next year, Wynn Resorts officially opened the Encore Boston Harbor. Before MGM opened its gambling venue, Massachusetts was thought to be one of the most lucrative new casino markets in the country.

Things haven’t been running smoothly for this company, though. Since opening its doors to the public, this new property has struggled to attract new gamblers. The opening of the Encore Boston Harbor made things even worse. This venue has become the most popular casinos in the state, stealing many gamblers away from MGM Springfield.

Company officials desperately want to make a change. This week, they announced that the leadership of the Massachusetts gambling venue was changing.

MGM Springfield’s New Leaders Need to Make a Change

MGM Resorts International is one of the largest and most successful casino companies in the country. It owns a huge number of major properties around the world. For many analysts, it was a huge surprise to see this company’s gambling venue in MA struggle.

This week, company officials announced MGM Springfield’s new leaders. A decision was made to bring in new faces here. Mike Mathis has officially been removed as president of the casino-resort. Chris Kelley is now taking his place.

Mike Fenton, a City Councilor and member of the Casino Oversight Committee, talked about this change to the media this week.

“My first question was is there anything wrong, is there anything to be concerned about with the Springfield project, and the answer to both questions was no,” he said. “When they vote for the casino referendum, they wanted to see the south end…not just the casino, but outside the casino, revitalized. And that does not happen overnight but I continue to be very encouraged by the progress there.” 

For now, the city of Springfield will continue to receive money from MGM’s casino-resort. If things don’t improve here, however, this gambling venue may eventually be forced to close its doors.

Property Sales Continue in Las Vegas

The change in MGM Springfield’s new leaders is one of many announcements from MGM Resorts International. Over the past few months, the company has sold some of its biggest and most profitable gambling venues in Las Vegas. This includes the Bellagio, MGM Grand, and Mandalay Bay.

This all comes as part of a new cost-cutting strategy. MGM Resorts is focused heavily on expanding overseas right now. One of the main ways to achieve this goal is to earn money through casino-resort sales.

The Las Vegas sales aren’t exactly cut and dry, though. MGM Resorts is choosing to lease back many of the properties that it’s sold. The company is paying $245 million per year to retain control of the Bellagio, for example.

There’s a chance that MGM Resorts will choose to sell its casino-resort in Springfield. Before this happens, though, the company has chosen to switch up MGM Springfield’s new leaders. We’ll need to wait and see how this affects the property’s revenue earnings.

It’s an interesting time for MGM Resorts right now. Make sure to stay tuned for more news on the company over the next few months!

MGM Springfield Could Soon Go For Sale

MGM Resorts International is having a busy year. In order to generate more revenue for expansion overseas, this company is working to sell some of its major properties. This week, officials within the company announced they were interested in selling the MGM Springfield.

MGM Springfield Casino

This Massachusetts hotel-casino has struggled to perform over the past year. It’s disappointing news for MGM, which has invested major resources into this venue. Today, we’re going to look at why exactly this casino could soon go up for sale.

MGM Resorts International Continues to Sell Property

MGM Resorts is one of the biggest and most profitable casino companies in the world. It owns a huge number of gambling venues around the world, including many in Las Vegas. Some of these MGM-owned properties are located on the Strip including the MGM Grand, Mandalay Bay Hotel & Casino, and The Mirage.

This company is undergoing a major transition right now. Recently, MGM revealed that it was working on selling many of its biggest properties. The idea is to sell properties and invest the money towards expansion throughout the US and abroad.

Just last month, MGM Resorts International announced that it sold Circus Circus Hotel & Casino. This venue was purchased by Phil Ruffin, owner of Treasure Island in Las Vegas. It’s unclear exactly what Ruffin plans to do with his new hotel-casino.

To the surprise of many, MGM Resorts International also sold the world-famous Bellagio Casino-Resort last month. It went to the Blackstone Group for an astounding $4.2 billion, making it the largest property sale in Las Vegas history.

Jim Murren, CEO of MGM Resorts International, recently told the media that additional property sales are likely to take place in the future.

Company Officials Are Now Interested in Selling MGM Springfield

Massachusetts has always been considered a lucrative casino market. Until fairly recently, however, no commercial gambling venues were able to operate here. This is no longer the case and today there are several popular privately owned casinos in Massachusetts.

MGM Springfield opened its doors back in August of 2018. At the time, it was the biggest and most impressive gambling establishment in the state. MGM Resorts International invested nearly $1 billion to open this casino in hopes of dominating the New England gambling market.

For a while, it was successful. MGM Springfield drew in thousands of visitors every month and revenue continued to increase. Recently, however, things have been going downhill for this casino.

In June, Wynn Resorts finally opened its own Massachusetts-based casino, called the Encore Boston Harbor. As the name suggests, this venue is located near Boston and immediately gained tremendous success. It’s so successful, in fact, that it’s captured a significant portion of the Massachusetts gambling market.

MGM Springfield’s revenue has continued to drop since the Encore Boston Harbor opened its doors. Officials are now interested in selling this property.

One plan that’s being discussed is selling the venue and then leasing it back. It’s the same strategy that MGM is using for the Bellagio. Some are skeptical that this plan will work in Massachusetts.

Officials Remain Skeptical of MGM’s Massachusetts Casino Sale

Selling a billion-dollar gambling venue doesn’t come easy. Recently, several politicians in Massachusetts voiced their skepticism over the sale of MGM Springfield. Domenic J. Sarno, Mayor of Springfield, spoke on this issue to the media this week.

“(The city has a) very strong Host Community Agreement with MGM and we will certainly hold MGM to this legally binding agreement,” he said. “Part of this mandates the city and the Massachusetts Gaming Commission must approve any and all adjustments to said agreement.” 

Others believe that a sale could be completed, yet the lease-back process that MGM is looking for might be more difficult.

It’s clear that MGM Resorts is bleeding cash from this venue. State officials recognize this, as well. Hopefully, they’re able to come to an agreement on how to best proceed next.

Stay tuned for more news on MGM Springfield over the next few months!

Massachusetts Casino Revenue Dips in September

Massachusetts is just beginning to embrace the casino industry. There are a few major gambling hubs here, all of which are fiercely competitive with each other. Unfortunately, new reports indicate that Massachusetts casino revenue fell in September. Massachusetts State Symbol

Today, we’ll be looking at the expansion of Massachusetts’ casino market. We will also talk about how much money these casinos managed to bring in last month. Let’s get into it!

More Casinos Begin to Open in Massachusetts

The US gambling industry has never been stronger. Many states around the country are beginning to liberalize their casino gambling laws and are experiencing massive revenue earnings as a result. Several major companies have begun looking at Massachusetts as a lucrative new casino market to break into.

Wynn Resorts is one such company. Back in June, Wynn opened the Encore Boston Harbor casino-resort in Everett, MA. The location was concerning for some; it was previously an unattractive industrial area.

Fortunately, Wynn Resorts’ new casino in Massachusetts has proven to be massively successful. It’s been generating major revenue for the company and state since opening its doors to the public. Encore Boston Harbor was also been outperforming the MGM Springfield gambling venue, which was once the most popular gaming hub in the state.

Many companies are now working to open gambling venues here. Over the next few years, two new venues could open their doors here including the Aquinnah Cliffs Casino and Project First Light Resort & Casino.

Some analysts believe that Massachusetts will become the next major casino destination in the US. Of course, even here gambling revenue can sometimes dip.

Massachusetts Casino Revenue Finally Drops

For a time, it looked like casinos in MA would continue to experience an increase in gambling revenue for the remainder of 2019. Multiple reports have now proven otherwise. Massachusetts casino revenue fell in September and companies are taking notice.

MGM Springfield experienced one of its worst months of the year. Overall gambling revenue fell by 5.1%. The gambling venue brought in $19.8 in September, a pretty significant decrease from the $20.9 million made in August.

Encore Boston Harbor experienced a dip in revenue, as well. According to the Massachusetts Gaming Commission, this casino-resort earned $48.9 million last month. $27 million came from slots and $21.8 million from table games. These revenue earnings also represent a pretty serious decrease from August, where the casino made $52 million.

There’s no real cause for concern, though. Many analysts have pointed out that September is always a less-profitable month than August. Many individuals experience the end of their summer vacations and head back to work.

It’s likely that Massachusetts casino revenue will bounce back this month. This state has never been earning more from its gambling industry and it’s only going to get better.

More Gambling Options Coming to MA

Many lawmakers in Massachusetts are interested in adding even more gambling options to the state. Since May of 2018, when PASPA was struck down, several politicians have called for sports betting to become legal and regulated here. State Representative Brad Hill gave his opinion on the matter to the media a few months ago.

“I want to get us up and running because there is another football season nearly upon us,” he said. “We’re missing a huge opportunity for revenue in this state. Massachusetts likes to gamble, we like our sports, and I should be able, as a citizen, to go bet on a football game. Why is this taking so long? We’re not reinventing the wheel here.”

Many are also calling for online casino gambling to become regulated here. Today, there are a huge number of great online casinos in MA available yet none are monitored by lawmakers in the state. Hope is that in time, this will change.

Massachusetts casino revenue has fallen yet the state still has one of the most lucrative gambling markets in the country. We’ll need to wait and see which new gambling options become available here in the future.

Stay tuned for more Massachusetts gambling news over the next few months!

MGM Springfield Casino Fails to Meet Revenue Projections

One of the biggest casinos in Massachusetts isn’t performing as well as many thought it would. According to new reports, the MGM Springfield Casino has failed to meet the revenue projects set on it this year. It’s tough news for the gaming venue, which is facing new competition from the Encore Boston Harbor.

State Flag Of Massachusetts

It’s disappointing news to see this casino struggle. Today, we’re going to look at how much the casino revenue fell short. We’ll also talk about the state of Massachusetts’ gambling industry as a whole. Let’s get started!

Massachusetts’ Casino Industry Continues to Grow

For many years, lawmakers in Massachusetts worked to close off the gaming industry. Residents here voted to open a casino in 2012, yet no casinos were constructed here for years. Finally, in 2018, MGM Resorts opened a casino in Springfield.

The $960 million casino complex is one of the biggest on the East Coast. It features 125,000 square feet of total gaming space and a number of non-gaming activities. Hope was that this new casino would bring the state millions in additional revenue each year.

In June of 2019, Wynn Resorts decided to move into the Massachusetts gaming scene. This company opened the Encore Boston Harbor in Everett, located just miles from Boston. The Encore in Boston has proved extremely successful, generating millions of dollars just days after opening.

There are also some fantastic online casinos in MA available right now. The state does not regulate these websites, yet thousands of individuals make bets through them every single year.

It’s unclear whether or not any new gaming venues will open here in the near future. The MGM Springfield Casino and the Encore Boston Harbor are now competing with each other to bring in the most revenue.

MGM Springfield Casino Brings in Less Revenue than Expected

In Massachusetts’ limited gaming market, it was assumed that the MGM Springfield would be extremely successful. When first applying for a casino license, MGM anticipated that the Springfield casino would bring in $412 million in its first year of operating. Unfortunately, the casino has failed to meet these projections.

The MGM Springfield Casino just celebrated its first anniversary. According to new reports, this gaming venue earned $253 during its first year. That’s more than $100 million less than what was expected.

Mike Mathis, President and COO of the Springfield casino, commented on the revenue earnings to the media this week.

“We’re a little bit behind, say, our first-year projections,” he said. “But I feel really good about the trajectory of it.”

Mathis believes that increased competition from the Encore Boston Harbor is partly to blame. He feels that many of the patrons at MGM Springfield are choosing to gamble inside the Encore now.

“I think we may have underestimated that level of loyalty, and what it would take for those customers to give us a shot,” Mathis said.

Future of the MGM Springfield

It’s tough to predict how this casino will fare in the future. It’s clear that the Encore Boston Harbor is winning the revenue fight, yet the MGM Springfield Casino is still the top gaming venue in the south-east of the state. Of course, Boston is the most densely-populated areas of Massachusetts and brings in significantly more gamblers.

The MGM casino will continue to struggle with the competition. This isn’t deterring the casino’s officials, though. Owners of this casino predict that it will bring in even more revenue during its second year of operating.

This casino plans to bring in more people from outside of New England next year. Some gaming analysts question whether this is feasible. Several nearby states including New York and Pennsylvania have begun to expand their gambling markets. They are now offering sports betting and have introduced plans to create new casinos.

With more states embracing gambling, the MGM Springfield Casino will struggle to bring in visitors from outside of Massachusetts. Alan Woinski, a gaming analyst for Gaming USA Corp, believes it will be years before this gambling venue meets its revenue projections.

“I don’t know if it’s just reluctance to update that model or to bring it up to reality, but it’s been going on for over 10 years now,” he said.

Make sure to stay tuned for more news on Massachusetts gambling industry!