Massachusetts Gaming Revenue Declines in February, Sports Betting Handle Increases

The Massachusetts Gaming Commission reported that total gaming revenue across the state’s casinos and sportsbooks reached $158.97 million in February 2025. This figure reflects a decline from the $192.3 million recorded in January but a rise compared to February 2024’s $153.2 million. While land-based casino revenue experienced a decline, sports wagering showed significant year-over-year growth.

Casino Revenue Declines Year-Over-Year

Total gross gaming revenue (GGR) from Massachusetts’ three land-based casinos amounted to $93.4 million in February, representing a 7.1% decrease from the $100.6 million reported in February 2024. The decline also marks a 4.6% drop from the $97.9 million reported in January.

Encore Boston Harbor generated the highest revenue among the state’s casinos, reporting $59.3 million, down from $64.4 million in the same period last year. MGM Springfield followed with $20.9 million, a decrease from $22.9 million year-over-year. Plainridge Park Casino, however, showed a slight increase, recording $13.2 million compared to $13.1 million in February 2024.

Sports wagering, both online and retail, saw an increase in handle and revenue in February. The total sports betting handle reached $628.2 million, a 16.6% increase from the $538.7 million recorded in February 2024. Despite this growth, February’s handle fell 17.6% from January’s $762.5 million.

Taxable sports wagering revenue rose by 24.3% year-over-year, increasing from $52.7 million in February 2024 to $65.6 million last month. However, this was a 30.5% decline compared to January’s record $94.4 million.

Online Sportsbooks Dominate the Market

Online betting ed for the majority of Massachusetts’ sports betting activity, with online wagers totaling $618.6 million in February. This was up from the $526.5 million recorded a year earlier. Taxable revenue from online operators climbed to $65.3 million, a significant rise from $52 million in February 2024.

The state has six licensed online sportsbooks: BetMGM, Caesars Sportsbook, DraftKings, ESPNBet, Fanatics, and FanDuel. DraftKings led the market with $36 million in revenue from a $317 million handle, maintaining an 11.36% hold. FanDuel followed with $19.2 million in revenue on $167.2 million in handle, posting an 11.48% hold. BetMGM secured third place with $4.7 million in revenue from $54.6 million in handle, reflecting an 8.61% hold.

Fanatics recorded $3 million in revenue from a $33 million handle, maintaining a 9.09% hold. ESPNBet reported $1.5 million in revenue from $22 million in handle, with a 6% hold. Caesars and Bally Bet did not exceed the $1 million revenue mark in February.

Retail Sports Betting Performance

Retail sports betting contributed a smaller portion of the total handle, with land-based sportsbooks processing $9.6 million in wagers. MGM Springfield led the retail sector, reporting $112,272 in revenue from a $1.3 million handle, an 8.56% hold. Plainridge Park Casino followed with $93,119 in revenue from a $3.3 million handle, equating to a 2.82% hold. Encore Boston Harbor, however, failed to generate revenue from its sportsbook in February.

In February, Massachusetts collected $39.6 million in gambling-related taxes, a 2.1% increase from February 2024’s $38.8 million. However, this was a 15% decline from January’s $46.6 million. Of this total, $13.1 million came from sports wagering, while $26.5 million originated from land-based casino gaming.

Since the launch of sports betting in January 2023, Massachusetts has collected approximately $254.4 million in total taxes and assessments from licensed operators. The tax breakdown includes 45% allocated 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.

Despite a monthly decline in both casino and sports betting revenue, the Massachusetts gaming industry has demonstrated year-over-year growth, particularly in the online sports betting sector. The state’s six online sportsbooks continue to drive the market, while land-based casinos and retail sportsbooks face more challenges in maintaining revenue growth.

Source:

‘’MGC Releases February 2025 Casino and Sports Wagering Revenue’’, massgaming.com, March 20, 2025.