MGM Springfield Reports Bleak Monthly Revenue
MGM Springfield, a Massachusetts casino, reported its lowest ever monthly revenue in its 16-month history last December. This is the highlight of the financial report that Massachusetts Gaming Commission has released.
MGM Springfield’s gross gambling revenue in December was $18.9 million, down from $21.6 million a year ago.
The new numbers come amid concerns that MGM Springfield is losing out to an over-saturated gaming market and legalized sports betting opportunities in New York and New Hampshire, MassLive.com reported.
Overall, MGM has fallen short of promised revenue prior to its opening in August 2018. Regulators were told the casino would bring in an average of $34.8 million a month. Instead, the average over the first 16 full months was $21.54 million a month, with a high of $26.9 million in September 2018, its first full month of operations.
The president of MGM blamed the December numbers on the bad weather, though Encore Boston Harbor, another casino, reported an improvement in its gaming numbers from $47 million in November to $54 million in December.
