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Gambling in the USA

MGM Springfield Reports Bleak Monthly Revenue

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5 years ago

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MGM Springfield Reports Bleak Monthly Revenue
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MGM Springfield, a Massachusetts casino,  reported its lowest ever monthly revenue in its 16-month history last December. This is the highlight of the  financial report that Massachusetts Gaming Commission has released.

MGM Springfield’s gross gambling revenue in December was $18.9 million, down from $21.6 million a year ago.

The new numbers come amid concerns that MGM Springfield is losing out to an over-saturated gaming market and legalized sports betting opportunities in New York and New Hampshire, MassLive.com reported.

Overall, MGM has fallen short of promised revenue prior to its opening in August 2018. Regulators were told the casino would bring in an average of $34.8 million a month. Instead, the average over the first 16 full months was $21.54 million a month, with a high of $26.9 million in September 2018, its first full month of operations.

The president of MGM blamed the December numbers on the bad weather, though Encore Boston Harbor, another casino, reported an improvement in its gaming numbers from $47 million in November to $54 million in December.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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