Massachusetts is home to a growing casino industry. Unfortunately, the events that have unfolded throughout 2020 have slowed much of the progress that the casino industry has made here. New reports claim that MA’s casino revenue dropped by a large percentage once again during the month of November.
Some of the country’s largest casino companies are now operating in Massachusetts. They are certainly feeling the effects of the state’s revenue drops. Today, we’re going to discuss exactly how much money the casino industry here lost last month.
Let’s get into it!
More States Order Commercial Casinos to Shut Down
Massachusetts is far from the only state to see its casino industry hurt this year. Over the past nine months, just about every single state around the country has seen massive drops in gambling revenue. Unfortunately, things seem to be getting worse before they get better.
Nevada, which relies heavily on its casino industry, saw its casinos shut their doors to the public back in March. Governor Sisolak began allowing casinos to reopen their doors in June. Since that time, these casinos have struggled to bring in players.
Sisolak hasn’t gone as far as to order another mass casino shutdown. He understands this would be devastating to the state and particularly the city of Las Vegas. The lack of tourists has led several casino-resorts to close down during certain days of the week on their own.
Illinois’s lawmakers recently ordered their commercial casinos to close their doors. It’s a shame, as this state is currently working hard to expand its gambling industry. Officials in Pennsylvania also recently ordered all of the state’s commercial gaming venues to shut down, as well.
This could become more common over the next few weeks. Cases of Covid-19 have been rising steadily around the US. It seems likely that casinos, known for packing large numbers of people into a small area, will be ordered to temporarily stop accepting players.
It’s an extremely difficult time for this industry. New reports have just come out that shed light on how much money the gaming venues in Massachusetts lost in November.
Here’s Where MA’s Casino Revenue Stands for the Month of November
As we mentioned earlier, the state of Massachusetts is beginning to develop a large and successful casino industry. It’s been interesting to see how fast this market has grown here. Unfortunately, the casinos in MA have seen things completely turn around in 2020.
Gaming revenue has dropped here every single month this year. November has proven to be one of the worst yet for the casinos in this state. The Massachusetts gambling commission has finally released reports on MA’s casino revenue that shows how bad things ended up last month.
According to these reports, the three casinos in this state earned just $45 million during November. That is down considerably from the $69 million brought in last October. Some of these casinos managed to fare better than others.
MGM Springfield reported its worst-ever month since opening. This MGM Resorts-run gambling venue saw just $10.5 million in revenue. That’s even lower than the $10.7 million earned in July when this venue wasn’t even open for an entire month.
The Encore Boston Harbor fared slightly better, with $11.8 million in revenue. Plainridge saw a drop to $7.6 million in GGR. It’s now clear that November will go down as one of the worst months in history for Massachusetts’ casino industry.
To make things worse, some analysts predict that MA’s casino revenue could drop further in December. We’ll be sure to offer updates on next month’s reports as soon as they come out.
Is 2021 the Year Massachusetts Legalizes Sports Betting?
The US Supreme Court made the historic decision to strike down PASPA back in May of 2018. This was one of the biggest moves ever for the country’s gambling industry. It immediately gave every single state the ability to legalize sports gambling.
Since that time, 26 states have chosen to embrace this industry. Some only allow sports wagers to be placed in-person at a licensed sportsbook. Others now regulate both online and land-based sports betting.
The latter states are profiting considerably more. Online sports betting has surged throughout 2020. Several states, including New Jersey, have seen record sports betting handle figures throughout the year.
Unfortunately, Massachusetts failed to approve any sports betting bills this year. It was a major disappointment for proponents of this industry, many of whom felt it would help to bring the state major revenue earnings each month. The massive number of sports fans here also expressed disappointment at the state’s inability to legalize this form of gambling.
Hope is that 2021 is the year Massachusetts’ sports betting industry finally goes live. This could help to make up for the money that casinos have lost throughout 2020. Stay tuned for updates on this situation over the next couple of months.
Are you surprised to see MA’s casino revenue drop once again in November? Where do you expect things to stand in October? Let us know in the comments section below!