Records are meant to be broken, and that’s exactly what Massachusetts did to close out 2023.
The Massachusetts Gaming Commission released its December financial report earlier this week, and it summarized its extraordinary end-of-year numbers.
A record-setting $658.7 million is how much the state racked up last month in Massachusetts sports betting handle.
But it wasn’t just the handle that saw a boost; revenue also increased.
How did MA exceed half a billion in betting, a jump in revenue, and how will the cash flow impact the state?
Let’s dive into it.
MA Casinos For the Win
The state of Massachusetts currently has three full-service, in-person casinos. Encore Boston Harbor, MGM Springfield, and Plainridge Park Casino are the brick-and-mortar betting shops where folks can physically walk into and place their bets.
And these three retailers were a huge help in elevating last month’s numbers.
In November 2023, in-person casinos in the state did $94 million in revenue. And as if on cue, December came through with a holly, jolly increase.
During the last month of the year, the trio of retailers generated $103 million in revenue, amounting to a 9.6% leap from the month before.
MassGaming reported that Encore Boston Harbor had more than $65.8 million in total casino revenue, followed by MGM Springfield with more than $23.6 million. Pulling up the rear was Plainridge Park Casino with approximately $13.6 million.
MA Online Sports Betting Reigns Supreme
When it comes to adding up all the coins that contribute to revenue and handle, sports betting at online operators took center stage — as usual.
The $658.7 million December handle was slightly better than November’s $654.4 million.
As for which sportsbooks did the best, the usual suspects were at the top of the leaderboard.
Filling in the Gaps
Massachusetts ended 2023 with an incredible uptick. But now what?
According to NBC Boston, all the cash flow from casinos and online sports betting will be key to helping close budget gaps in the state’s economy.
Massachusetts Gov. Healey plans to apply millions of dollars from gaming revenue and combine that with money from lottery sales to “plug budget gaps” and provide some relief for the Bay State’s finances.