According to the newest figures for MGM Springfield, there is a 2.7% increase in revenue compared to the previous month. However, even though the revenue is higher, the casino is still short of the predictions. Since the casino opened in 2018, there has been almost one-third missing from the number they predicted that they would earn in the first year. MGM said that they would get over four hundred million since they opened, and they managed to make less than three hundred million.
Furthermore, they said that the casino would bring over thirty million each month, while the average for the first year was a bit over twenty million. Even if we take a look at the highest month, which was March, the revenue was still below the predictions with twenty-five million.
President of the MGM Springfield, Michael Mathis, said that they are pleased with having a solid August and that Aerosmith played four shows at their venue. He also added that they were satisfied with almost half a million visitors and the way the market accepted them.
Finally, he said that they were looking forward to all the opportunities that their second year would bring and that they had a lot of different activities and events planned for the next year.
If we take a look at the gross revenue for July and August, there is an increase in profit for the previous month. The officials of MGM said that they were as busy as they planned to be at this point.
Of course, we should mention that variations in the calendar can have such an impact on the business in the casino. And one of the reasons for higher gross revenue in August was due to the fact that it had five weekends. According to the Gaming Commission, MGM paid almost seventy million in taxes from their first year.
As a comparison, Encore Boston Harbor had over fifty million gross revenue for the previous month, while Plainridge Park had around twelve million in August.