MGM Springfield has passed a rough time all across the month of November, according to the report of its performance in its history. Gross Gaming Revenue gained by the casino totaled $10.5 million in November. The integrated resort-casino which worths $960 million was installed by NGM Resorts in August 2018.
MGM Springfield Also Endured Worst Month
The performance of the casino is a steep decline of 40% from October and in that month the casino made $17.5 million. November 2020 has also represented a downturn of 47% compared with the previous year’s November when Springfield kept nearly around $20 million of all the gambler’s money.
MGM Springfield and two other casinos under the commercial category of the same state Plainridge Park and Encore Boston Harbor were forcefully closed in the middle of the march. They remain closed until the beginning of July. This year’s November has given these casinos the chance to make the least amount of fortune. It is the lowest earned revenue in a month for the company in its history. It won only $9.3 million in March when it was merely run for half of the month. Then the amount of GGR totaled blank from April to straight June as the casino was forced to close.
As Massachusetts’ casinos restarted their activities in July, they have been running following numerous virus protection safety measures. Most notably, they have incorporated a limitation to only 25 percent capacity of their fire-code. All types of table games were restricted to only three players each and all the slot machines have been positioned maintaining at least six feet of the room or divided by a six feet high plexiglass.
Despite all the constraints, MGM Springfield collected gross revenue of only $18.5 million, $17.6 million, and $17.5 million respectively in August, September, and October. November’s amounts retracted because of a sudden surge of COVID-19 and new order from the state.
MGM and Encore, being a resort-casino of category 1, have their gross revenue taxed at only 25%. Whereas, Plainridge Park has been taxed at only 49%.