In a stunning turn of events for the Massachusetts gaming industry, casino and sports betting revenue hit an all-time high of $157.3 million in the month of March, signaling a resurgence in the sector following a turbulent year of pandemic-related closures and restrictions. The impressive figures come as a welcome relief for both operators and state officials, who have been eager to see the industry back on track after facing unprecedented challenges in 2020.
According to data released by the Massachusetts Gaming Commission, the state’s three casinos – MGM Springfield, Encore Boston Harbor, and Plainridge Park Casino – collectively raked in a record-breaking $128.6 million in gaming revenue last month. This marks a 15% increase compared to February and a staggering 65% jump from March 2020, when the casinos were forced to shut down in response to the COVID-19 outbreak.
Leading the charge was Encore Boston Harbor, which generated over $61 million in gaming revenue in March, representing a significant boost from the $42 million reported in February. The luxury resort casino, owned and operated by Wynn Resorts, has been a driving force behind the state’s gaming economy, attracting high-rollers and casual gamblers alike with its lavish amenities and world-class entertainment offerings.
In addition to the impressive performance of the state’s casinos, sports betting also saw a significant uptick in revenue last month, with operators reporting a total of $28.7 million in handle and $7.3 million in revenue. This marks a notable increase from the $11.3 million handle and $3.2 million revenue reported in February, as sports fans flocked to wager on major events such as March Madness and the NBA.
The surge in gaming and sports betting revenue has been attributed to a combination of factors, including the easing of COVID-19 restrictions, the rollout of vaccines, and pent-up demand from consumers eager to return to normalcy. With the warmer weather and the promise of a return to pre-pandemic activities on the horizon, industry analysts expect the trend to continue in the coming months, setting the stage for a strong recovery for Massachusetts’ gaming sector.
In response to the record-breaking March figures, state officials have expressed optimism about the future of the gaming industry in Massachusetts, emphasizing the importance of responsible gambling practices and continued investment in infrastructure and regulatory oversight. As the state looks to capitalize on its newfound momentum, stakeholders are hopeful that the burgeoning gaming market will not only drive economic growth but also provide much-needed entertainment and excitement for residents and visitors alike.