Gaming | Revenues dip at Massachusetts and Connecticut casinos

While gaming revenues appear to be stabilizing in the Macau SAR, with analysts this week even revising their forecasts upward, the northeast U.S. is not faring so well.

Gambling revenues have dipped at Massachusetts’ casinos for another month, with the state Gaming Commission rerporting that MGM Springfield generated USD21 million (MOP170 millon) in gambling revenues in November, the third full month the state’s first Las Vegas-
style resort casino has been open.

Those gambling revenue figures are down from October’s $22 million and September’s $27 million.

Plainridge Park in Plainville, meanwhile, generated $12.8 million in November, down from October’s $13.5 million and September’s $14.3 million, the commission reported .

MGM Springfield President Michael Mathis said in a statement the company is pleased with the western Massachusetts casino’s “overall performance.”

He said November represented “another solid month” for the property, which is located near Connecticut and also generates revenues from restaurants, bars, a hotel and other attractions.

MGM provides 25 percent of its gross gambling revenues to the state while Plainridge Park contributes 49 percent.

Meanwhile, Connecticut’s two casinos both reported their fifth consecutive month of year-over-
year gambling declines. Rhode Island’s two casinos haven’t yet reported their November revenue numbers.

Macau gross gaming revenue held approximately in the range of MOP22 billion to MOP27 billion per month throughout 2018, with the latest December forecasts sitting in the upper bound of the range and projecting about 13 percent annual growth.

The reasonable posting is in spite of a consistent decline in the stock value of Macau six operators led by the ongoing effects of the China-U.S. trade war, with Galaxy Entertainment dipping 10 percent since July and the worst performer, Melco International Development, freefalling 34 percent. MDT/AP