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Industry News

The Massachusetts Gaming Commission Releases February 2024 Casino and Sports Wagering Revenue

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The Massachusetts Gaming Commission reported that the month of February 2024 at Plainridge Park Casino (PPC), MGM Springfield (MGM) and Encore Boston Harbor (EBH) generated approximately $100.57 million in Gross Gaming Revenue (GGR).

Additionally, approximately $52.55 million in taxable sports wagering revenue (TSWR) was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of February.

Gross Gaming Revenue (Casino Gaming)

PPC, a category 2 slots facility, is taxed on 49% of GGR. Of that total taxed amount, 82% is paid to Local Aid and 18% is allotted to the Race Horse Development Fund. MGM Springfield and Encore Boston Harbor, category 1 resort-casinos, are taxed on 25% of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.

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To date, the Commonwealth has collected approximately $1.677 billion in total taxes and assessments from the casino operations of PPC, MGM and Encore since the respective openings of each gaming facility.

Sports Wagering Revenue

EBH, MGM, and PPC are licensed as Category 1 Sports Wagering Operators, which allows them to operate a retail sportsbook at their respective property. Category 1 operators are taxed on 15% of TSWR.

BetMGM, Betr, Caesars Sportsbook, DraftKings, Fanatics Betting & Gaming, FanDuel, Penn Sports Interactive, and WynnBet are licensed as Category 3 Sports Wagering Operators, which allows them to operate a mobile or online sportsbook. Category 3 operators are taxed on 20% of TWSR.

Of the total taxed amount for all operators, 45% is allotted to the General Fund, 17.5% to the Workforce Investment Trust Fund, 27.5% to the Gaming Local Aid Fund, 1% to the Youth Development and Achievement Fund, and 9% to the Public Health Trust Fund.

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To date, the Commonwealth has collected approximately $118.56 million in total taxes and assessments from the sports wagering operations of licensed operators since sports wagering began in person on January 31, 2023 and online on March 10, 2023.

When an operator’s adjusted gross sports wagering receipts for a month is a negative number because the winnings paid to wagerers and excise taxes paid pursuant to federal law exceed the operator’s total gross receipts from sports wagering, the Sports Wagering Law allows the operator to carry over the negative amount in tax liability to returns filed for subsequent months.

Industry News

NIGC Announces Record $41.9 Billion FY 2023 GGR

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The National Indian Gaming Commission (NIGC) released fiscal year 2023 Gross Gaming Revenue numbers totaling $41.9 billion, an increase of $1 billion, or 2.4%, from the historic FY 2022 GGR of $40.9 billion.

Acting Chairwoman Sharon M. Avery and Vice Chair Jeannie Hovland made the announcement at the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wis.

This year’s revenue reflects the viability of tribal gaming operations, as tribal gaming continues to adapt to technological advances and changes in consumer preferences. All eight NIGC regions demonstrated growth in gaming revenue since the last GGR report.

“This year’s GGR results demonstrate how a strong regulatory framework and diversity of tribal gaming enterprises generates growth in the gaming industry. Again, this year, tribal gaming operators and regulators have proven that their ingenuity and tenacity are catalysts for growth, even in the face of an ever-changing gaming landscape. This steadfastness will ensure that tribal gaming remains a valuable resource for continued economic sustainability in tribal communities,” said Avery.

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“I congratulate the industry regulators, operators, and tribal leadership on another successful year. Their hard work in meeting and overcoming the challenges presented by an increasingly competitive market is evidence that tribes are resilient, and their gaming expertise is yielding benefits for their nations as IGRA intended,” said Hovland.

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High 5 Casino Wins Social Gaming Operator of the Year for Second Consecutive Year

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High 5 Casino Wins Social Gaming Operator of the Year for Second Consecutive Year

 

High 5 Casino is thrilled to announce its consecutive win as Social Gaming Operator of the Year at the EGR North America Awards 2024. This prestigious award reaffirms High 5 Casino’s exceptional performance and innovation in the social gaming sector.

“We’re honored that High 5 Casino has once again received the Social Gaming Operator award,” said Tony Singer, CEO of High 5 Games. “Beyond our growth in users, it’s the happiness our players find in the H5C community that motivates us to continually improve. Our commitment is to provide players with top-notch casino content, and we’re determined to solidify H5C as the leading social casino brand worldwide.”

An independent panel of judges selected High 5 Casino for its outstanding performance and innovation over the past year. The award recognizes High 5 Casino’s notable commercial success and community-building efforts in the social gaming market.

“The recognition from EGR North America Awards is a testament to our team’s dedication and the support of our players,” added Tony Singer. “We are excited to continue pushing boundaries in social gaming and delivering unforgettable experiences to our community.”

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The winners were announced on June 27 at an awards ceremony held at Midtown Loft & Terrace in New York City. High 5 Casino secured the Social Gaming Operator of the Year award due to its outstanding product quality, revenue growth, and leadership in innovation across product differentiation, marketing, and technology.

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Industry News

Navajo Gaming Appoints John James as Chief Executive Officer

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Navajo Gaming has appointed John James as its Chief Executive Officer.

John James brings more than two decades of professional gaming and hospitality experience to Navajo Gaming. He previously served as CEO of River Rock Entertainment Authority in Geyserville California. There he exemplified his strong leadership skills by identifying and implementing innovative operational improvements to grow revenue while improving morale through thoughtful strategic direction and mentoring.

Prior to that, he led numerous tribal casinos including serving as CEO of Muckleshoot Casino Resort in Washington, CEO of Soboba Casino Resort in California, COO of Morongo Casino Resort & Spa in California, and CEO of Gila River Gaming Enterprises in Arizona. Additionally, he has served in leadership positions for Seminole Gaming Inc., Pechanga Resort and Casino, and various successful Station Casino properties.

As CEO of Navajo Gaming, John James will oversee and manage Navajo Gaming properties in New Mexico and Arizona, as well as ensure that Navajo Gaming policies and objectives are met. His three main objectives are to strengthen Navajo Gaming and the hospitality economy, return revenue to the Navajo Nation, and provide additional jobs to members of the Navajo Nation.

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“Navajo Gaming has grown to a multi-million-dollar enterprise over the past 15 years. John James brings extensive gaming and management experience and leadership qualities to lead Navajo Gaming. James has been widely recognized as the industry’s ‘best of the best’ for his exceptional strategic and positive impact. He will stimulate continued growth and success for Navajo Gaming as we remain focused on job creation and enhancing the Navajo economy,” Quincy Natay, Chairman of the Navajo Gaming Board of Directors, said.

“I am honored to serve Navajo Gaming’s team and guests under the stewardship of the board and alongside such a strong management team. Our industry is transforming rapidly and there is tremendous opportunity for Navajo Gaming to capitalize on opportunities, elevate guest experiences and solidify our reputation as exceptional destinations where memories are made,” John James said.

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