MGM Springfield underperforms in its first year

Gaming revenue at the casino was approximately US$144 million below the projections.
Gaming revenue at the casino was approximately US$144 million below the projections.

The Massachusetts Gaming Commission released a new financial report that shows that MGM Springfield fell short of estimations in its first year.

US.- A new report from the local gambling regulator in Massachusetts indicates that MGM Springfield’s first year of operations wasn’t as good as expected. Gaming revenue at the casino was approximately US$144 million below the projections for the first year of operations.

The Massachusetts Gaming Commission (MGC) released a report detailing that MGM’s gambling revenue increased 2.7% month-on-month in August. However, the numbers also indicate that in its first year, the casino’s gross gaming revenue (GGR) was lower than expected.

MGM totalled US$273.8 million from August 24, 2018, to August 30, 2019. The casino told regulators that it would bring approximately US$417 million in its first year of operations. This equals to an average of US$34.8 million a month. However, MGM Springfield averaged US$22 million a month, its highest happening in March with US$25.7 million.

The casino said in a statement that they are pleased with how well they’re being received in the market. “As our second year of operation begins, we look forward to the opportunities ahead reaffirming our commitment to the community and Commonwealth through a robust calendar of events, exciting concerts, eclectic dining, dynamic casino promotions and world-class guest services synonymous with MGM Resorts,” said Michael Mathis, president of MGM Springfield.

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