Given that Plainridge Park didn’t reopen until July 8, and Encore Boston Harbor and MGM Springfield not for two more days after that, it’s wholly understandable that Massachusetts gambling revenue was down 44% last month. JP Morgan analyst Joseph Greff also blamed capacity restrictions. The gross was $45.5 million, most of that from Encore. Plainridge Park banked $8 million, down 38% (but with state-leading win/slot/day of $280), while MGM Springfield eked out $11 million, falling 48%. That left Encore and its $27 million (!) gross, a 45% drop. Wynn Resorts slots won $16 million and tables $11 million.
The action was better in Pennsylvania, where Internet gambling surged 9% to $54 million, despite casinos being open. Sports-betting handle was $165 million, which boiled down to $13.5 million in revenue. Leaders in the Internet-bet sphere were Rivers Philadelphia (28% of overall revenue) and Valley Forge Casino Resort (15%). While online sports-bet handle was two-thirds of the total last year at this time, it has surged to 94%. FanDuel at Valley Forge dominated market share with 34%, followed by Meadows/DraftKings‘ 22% share.
The photo shown of Harrah’s Chester Downs A/K/A Harrah’s Philadelphia Casino looks a lot better on the outside than it does on the inside. Shall I say it looks like an airport hanger with carpet & slot machines? Or shall I say it has “Sam’s Club” chic, but without the chic. Oh, did I forget to mention the great view of the PA state prison across the street?