The Bay State’s gambling earnings have taken a dip despite a rise in wagering activity in August.
Massachusetts sports betting activity hit $314.9 million in August, a 6.8% jump from July, but the state’s income from this activity took a downturn.
This figure surpasses the $294.9 million recorded in July, which marked the lowest total for Massachusetts since legal betting began in April.
Approximately $307.2 million was wagered online, representing a 6.6% increase from July. Physical betting locations in August also saw a 13.2% increase, reaching $7.7 million.
Despite the month-to-month rise in wagering activity, sports betting revenue couldn’t mirror this trend. Total revenue in August amounted to $22.7 million, a 22.8% decrease from the $29.4 million generated in July.
Of this total, $22.6 million originated from online betting, down 21.5% from July. Revenue from physical betting locations was a mere $157,782, a significant 72.6% decline.
DraftKings remains the frontrunner, capturing $161.9 million in wagering activity and generating $10.8 million in revenue in August.
FanDuel secured second place once again, with $79.4 million in wagering activity and $7.4 million in revenue, followed by BetMGM, which recorded $2.4 million in revenue and $21.2 million in wagering activity.
In the land-based market, Plainridge Park Casino topped the list with $150,773 in revenue from $2.8 million in wagering activity. MGM Springfield also generated $64,934 in revenue from $912,651 in wagering activity.
Although Encore Boston Harbor saw the highest retail sales, hitting a remarkable $4 million, they experienced a significant loss of $57,925 from sports wagering.
Casino income saw a slight decline in August.
In the realm of physical casino operations, the combined revenue from table games and slot machines experienced a decrease of 0.7%, settling at $97.9 million.
Physical slot machine earnings reached $67.5 million, remaining consistent with July’s figures. Table game revenue reached $30.4 million, showing a 2.6% decrease from the previous month.
The combined revenue from sports betting and casino operations reached $120.6 million in August, marking a 5.9% decline from the previous month’s $128.1 million. The state collected $4.5 million in taxes from sports betting and $27.6 million in taxes from land-based casinos.
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