Photo: WBZ NewsRadio Staff
BOSTON (State House News Service) — The first full month of in-person sports betting generated more than $25 million in wagers, more than $2 million in revenue for sportsbooks and just more than $300,000 in taxes for the state, the Gaming Commission said Wednesday.
Plainridge Park Casino, MGM Springfield and Encore Boston Harbor took more than $25.7 million in wagers last month and kept $2.01 million as revenue after paying out winnings and federal excise taxes. Encore led the way with a monthly handle of $16.9 million and taxable revenue of just more than $857,000. Plainridge had a February handle of just more than $7 million and reported just more than $890,000 in monthly revenue. MGM Springfield took $1.76 million in wagers and generated about $262,000 in monthly taxable revenue.
Revenue from in-person sports betting is taxed at 15 percent, and the state's take for the month came to $301,533.52, the Gaming Commission said.
In-person betting began Jan. 31, so the release Wednesday of February gambling revenues provides the first real picture of the money generated by the newly legal activity. Mobile betting began March 10 and revenue generated from it will first be reported by the Gaming Commission in mid-April.
Revenue and state taxes from casino-style gambling, which has been available here since 2015, was far more significant in February. The three casinos together reported more than $98 million in slots and table games revenue, which worked out to a state tax hit of about $27.4 million, the commission said.
Written by Colin A. Young/SHNS