Here’s An Update On the MGM Springfield

The casino industry in Massachusetts is about to begin operating again. That’s great news for gambling fans here, many of whom claim they’re excited to visit the reopened casinos. We’ve just been given an update on the MGM Springfield and many are surprised to hear what the casino’s owners are saying.MGM Springfield

It’s been a tough road getting Massachusetts’ casino industry up and running again. Many of the major gambling venues here have been losing an incredible amount of revenue over the past couple of months. Today, we’re going to look at what’s being planned for this venue.

Let’s get into it!

Governor Charlie Baker Gives Green Light for Casinos to Reopen On July 12th

Casinos were some of the first businesses ordered to shut down back in March. Over the past month, however, many of the gambling venues around the world have begun opening back up. That includes casinos in Nevada and New Jersey.

Massachusetts has been cautious to reopen as fast as many other states. Governor Charlie Baker refused to tell the media when the state’s gambling industry would resume operations. That finally changed last week.

Murphy held a press conference to speak about the state’s move into Phase 3 of reopening. He announced that casinos here would officially be allowed to accept guests again on July 6th. It was great news for the casino owners here, all of whom have been working hard to come up with a comprehensive, safe reopening plan.

At the moment, just three major land-based casinos are operating in Massachusetts. These venues have earned no revenue since March. It’s crucial for the properties to begin operating again, as many seem close to approaching bankruptcy.

Since opening back in June of 2019, the Encore Boston Harbor has become the most successful casino in MA. This property recently announced that it will begin accepting guests again on July 12th. A number of intense safety measures are being implemented here.

Another popular hotel-casino here also revealed some interesting news this week.

Casino Owners Offer Interesting Update on MGM Springfield

The MGM Springfield Casino-Resort first opened its doors to the public in August of 2018. It quickly became the most popular gambling venues in the state. It was clear that MGM Resorts invested an incredible amount of money into this property.

The opening of the Encore Boston Harbor immediately began to take away from the revenue that MGM Springfield was earning. MGM quickly began looking at new ways to attract players. Things were made worse when this property was forced to shut down in March.

Abe Berry, Vice President of Hospitality, recently offered an interesting update on MGM Springfield. He told the media that the casino will open soon, yet most of the hotel will remain closed. He feels it’s simply too early to begin allowing guests to stay in the hotel at maximum capacity.

“We don’t have a date yet set for opening but I think as we see conventions come back and hopefully a lot of the virus mitigated that definitely will make a decision about the hotel,” Berry said. “We probably won’t open the whole hotel entirely, it may be a couple of floors initially just based on what we’re seeing for demand… It’s just not viable at this point.”

This may end up proving to be the smart decision. A huge number of safety measures need to be set in place inside hotels to protect guests. For now, simply opening the casino floor may be the best option.

It’s a very interesting time for Massachusetts’ casino industry. MGM Springfield may have an opportunity to become the top casino in the state. Stay tuned for updates!

More East Coast Casino Industries Are Opening Up

Despite the fact that many casinos are now opening up, many of these venues are still struggling immensely. Revenue is very low here and no one knows when things will begin to get back to normal. More gambling markets on the East Coast are now working to resume their casino operations.

Atlantic City casinos began accepting guests again over July 4th weekend. As many already know, this city has one of the largest number of commercial casinos in the entire country. Intense social distancing is required in all of these casinos. Tourism has been gradually increasing here over the past week.

Maryland also recently announced that it was allowing its casinos to open back up. This state has recently become a major gambling destination. Hope is that the newly-reopened casinos here can begin drawing in a large number of players. News recently surfaced that shows how much gaming revenue has dropped here in fiscal 2020.

Even some of the casinos in New York have reopened. For now, only the tribal casinos here are accepting guests. It’s likely that many of the commercial casinos in this state will begin operating by the end of July.

Many were surprised to hear the recent update on the MGM Springfield. The hotel here will be mostly closed, yet the casino floor will soon open to players. It will be interesting to see which gambling venue manages to bring in the most players.

Are you excited to see the Massachusetts gambling industry open back up? Let us know in the comments section below!

Commission Officials Comment on Reopening Casinos in MA

Over the past decade, Massachusetts has developed a successful casino industry. Like all other states, however, Massachusetts has forced all of its gambling venues to shut down. Some states are opening up their casino industries, yet reopening casinos in MA is taking a little longer than many expected.Encore Boston Harbor Hotel-Casino

This week, members of the Massachusetts Gambling Commission met to discuss the reopening plans. Many are still concerned about safety. Today, we’re going to talk about the state’s plans to get its industry back up and running.

Let’s get into it!

Massachusetts Casinos Have Been Closed Since March

The East Coast of the United States has slowly grown into a major gambling destination. When most people think about gambling hubs here, Atlantic City comes to mind. Over the past few years, Massachusetts has also grown a successful gambling industry.

The first major gambling venue built here was the MGM Springfield venue. MGM Resorts International invested a huge amount of money into this property and many felt it would be one of the company’s top revenue earners. Unfortunately, this casino hasn’t brought in quite as much money as many anticipated.

Much of that is due to the opening of the Encore Boston Harbor. This property was opened near Boston back in June of 2019. It became an instant success and has begun to earn the majority of gambling revenue in the state.

Back in March, all of the properties in this state were forced to shut down to the public. No one knew how long things would take to get back to normal. It’s been three months and the casinos in this state remain closed to the public.

For weeks, casino owners here have been looking at ways to safely reopen back to the public. State officials have been extremely hesitant to lift restrictions and fear that reopening casinos could lead to a spike in new Covid-19 cases. This week, members of the state’s gambling commission met to discuss plans for the future.

Commission Officials Are Starting to Look at Reopening Casinos in MA

Closing down casinos has been extremely difficult for states around the country. That’s especially true in small communities where the gambling venues are a source of valuable revenue. It’s not a surprise to see a massive number of different states allow their casinos to open back up again.

This week, the Massachusetts Gaming Commission met with casino owners to discuss plans for the future. Chairwoman Cathy Judd-Stein commented on this situation.

“We want to be fair but we obviously need more information if this today presents a real challenge for you with your business model,” she said. 

Lawmakers here are proving to be much more cautious than those in other parts of the country. At the moment, reopening casinos in MA can’t take place until June 29th at the earliest. These venues will look considerably different than they did at the start of this year.

The current plan is for poker, craps, and roulette tables to be shut down. These casinos will need to limit blackjack tables to just 3 people per table. All slots will be separated by 4 to 6 feet.

“We are trying to bring some sense of normalcy,” Commissioner Enrique Zuniga said. “We’re going to have to see how it goes.” 

Waiting to see how things go is all we can do right now. It remains to be seen how much revenue the casinos here will generate once they begin accepting guests again.

Atlantic City Casinos Are Finally Given Support

Massachusetts isn’t the only state on the East Coast that has yet to get its casino industry back on track. Many have been keeping a close eye on Atlantic City, where some of the biggest and best casinos in the country are located. Lawmakers in this state have been very hesitant to open casinos again while cases of Covid-19 remain high in the state.

This has taken an incredible toll on Atlantic City. A huge number of businesses here rely on tourists and without casinos, tourism into this city has been virtually nonexistent. Some express fear that the city couldn’t last much longer under the current scenario.

Recently, the NJ State Senate officially approved a bill to help the casinos in this state. This piece of legislation is also intended to help local businesses here. As of now, the current plan is for the casinos in AC to open by the Fourth of July.

Reopening casinos in MA is expected to happen later this month. Based on the state commission’s meeting, it’s clear that everyone understands how important this really is. We’ll be sure to report on revenue earnings as soon as the reports are released.

It’s a difficult time for casino companies around the country. In places like Las Vegas, this industry seems to be getting on track.

Are you surprised to see how long reopening casinos in MA is taking? Let us know in the comments section below!

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!

Here’s What We Know About the MGM Resorts Hack

Yesterday, news broke that MGM Resorts was hacked last summer. According to reports, more than 10 million individuals had their personal information posted online. Today, we’re going to explain what we know about the MGM Resorts hack so far.MGM Resorts Logo

Many were unaware that this hack even took place. It’s likely that many individuals had their information posted and didn’t know about it. Before we get into the details of this hack, we’ll look at some of MGM’s recent company changes.

Let’s get into it!

Jim Murren Officially Steps Down As CEO of MGM Resorts

Since the 90s, MGM Resorts has been run by Jim Murren. During his tenure with the company, Murren has helped to significantly expand and improve this property. Recently, he announced that he’s stepping down as CEO of the company.

Murren’s contract was set to expire soon. It appears he’s ready to call it a day just a little earlier than expected. Now, officials within MGM Resorts are working to find a suitable replacement. As of now, it’s still unclear who will step into the CEO role.

Many are sad to see Jim Murren leave. He’s been a huge part of the company for years and is widely credited for helping to save the company during the financial crisis of 2008-2009. He’s also responsible for some of the company’s major Las Vegas casino-resort sales over the past few years.

His departure comes at an interesting time. MGM Resorts is currently dealing with several things at once. For weeks, it’s been forced to deal with issues in Macau. Fortunately, that situation seems to be improving.

News reports now claim that the company was hacked last year. It’s the last thing MGM Resorts needed right now. Here’s what we know about this hack.

MGM Resorts Hack Affects 10.6 Million Individuals

MGM Resorts International is one of the biggest casino companies in the world. It’s based in Las Vegas and owns many of the world’s most profitable gaming venues. This company also offers M Life Rewards, one of the most popular casino loyalty programs in the country.

Unfortunately, even MGM isn’t safe from hackers. According to the website ZDNet, the information of 10.6 million individuals was posted online. The site eventually asked about the MGM Resorts hack to company officials, who offered this response.

“Last summer, we discovered unauthorized access to a cloud server that contained a limited amount of information for certain previous guests of MGM Resorts,” MGM said. “We are confident that no financial, payment card or password data was involved in this matter.”

The personal information on millions of tourists, which include government officials, tech CEOs, and reporters was posted to a popular hacking website. The information posted includes full names, home addresses, and phone numbers. MGM Resorts claims the informed the affected individuals last year.

The exact identity of this hacker is still unknown. Reports indicate that they are a part of GnosticPlayers, a hacking group that’s illegally claimed more than a billion personal records over the past few years. We’ll need to wait and see if any individuals affected by the MGM Resorts hack decide to take legal action in any way.

MGM Resorts’ Operations in Massachusetts Finally Improve

As we already mentioned, MGM Resorts is going through a lot right now. This includes the aforementioned departure of Jim Murren. For years, this company has also been working to bring in new gamblers to the MGM Springfield property in Massachusetts.

Lawmakers in Massachusetts decided to allow land-based casinos in the state back in 2011. The first casino to open here was the MGM Springfield. Initially, analysts predicted that this would be one of the most successful new casinos in the country.

Unfortunately, this has not been the case. Since opening in 2018, MGM Springfield has struggled to generate revenue. Things got even worse once the Encore Boston Harbor casino-resort opened to the public last year.

Fortunately, things seem to be finally improving here. Last month, gambling revenue increased here considerably. Interestingly, Encore Boston Harbor’s revenue dropped. Company officials hope this trend continues.

The MGM Resorts hack is very unfortunate. We’re likely to hear more about this over the next few months. Stay tuned for updates!

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!