Updated at 2:10 p.m.
The MGM Springfield casino took in $17.5 million from gambling last month, a decrease of less than 1% from September, but revenues remains well down from pre-pandemic levels.
When compared to October 2019, business was off 17.4% this past October. That's according to figures released by the Massachusetts Gaming Commission Monday.
As for MGM Springfield, slot machines continue to generate the bulk of its gambling business. In October, they accounted for $13.5 million, with table games coming in a $3.98 million. Massachusetts' other casinos are also struggling to get back to pre-pandemic figures. SPRINGFIELD - I’m relaxing in the spa at MGM Springfield while downstairs on the casino floor, it’s a riot of noise: open 24/7, even early in the afternoon the slot machines are jingling, the.
New rules aimed at slowing a rise in cases of the coronavirus could further hamper MGM Springfield's revenue picture. Earlier this month, Massachusetts Governor Charlie Baker tightened COVID-19 restrictions, forcing casinos and many other businesses to close by 9:30 p.m.
For MGM Springfield, that meant going from operating around the clock, to just 10 a.m. to 9:30 p.m. daily.
MGM said those newest restrictions caused the casino operator to either layoff or reduce the hours for about 250 workers.
Even before the hours restrictions, Massachusetts casinos were operating at a reduced capacity to promote social distancing, with fewer slot machines available and some table games not allowed.
The state gaming commission said Monday the two casinos and one slots parlor in Massachusetts combined to take in 88% of the gross gaming revenue when compared to a year ago, with half as many 'gaming positions' available for use.
As for MGM Springfield, slot machines continue to generate the bulk of its gambling business. In October, they accounted for $13.5 million, with table games coming in a $3.98 million.
Massachusetts' other casinos are also struggling to get back to pre-pandemic figures. Encore Boston Harbor saw its business sag 4.3% in October, as compared to September. That represented about a 10% drop from the same time in 2019.
/vintage-slot-machine-price-guide.html. Plainridge Park slots parlor saw a slight uptick in October from the previous month, but was also down about 10% from October 2019.
The state took in $19.6 million in tax revenue from the casinos in October, down $2.6 million from a year ago.
Correction: An earlier version of this report incorrectly stated the time by which many businesses must close in the state. It should have said 10:00 p.m.
- MGM Springfield is reopening at 25% capacity.
- The casino will increase its safety measures and cleaning procedures.
- The casino is a major economic driver to the area and provides 2,500 jobs.
After four months of being shut down from the coronavirus pandemic, Massachusetts casinos have reopened among some of the strictest and most-detailed health and safety regulations in the nation.
'This is a big day for us,' Chris Kelley, MGM Springfield's president and chief operating officer told CNBC. 'The opportunity to welcome back our guests and service this community again is a wonderful feeling.'
The Massachusetts Gaming Commission capped occupancy at 25%, and it remains to be seen whether the casinos can turn a profit with such severe limits on visitation.
Penn National Gaming CEO Jay Snowden has estimated he could break even at roughly 25% to 30% of pre-pandemic revenue. Penn's Plainridge Park Casino reopened last week, and like Wynn Resorts' Encore Boston Harbor and MGM Springfield, new safety measures are in place.
Upon reopening, several of Penn's properties in Indiana and Ohio have seen daily gross gaming revenue grow between 25% to 75% year over year.© Provided by CNBC MGM's Springfield casino reopens with plexiglass barriers and socially distanced slot machines.
'We reconfigured our floors significantly. Patrons who came here previously will notice a lot of changes. We had to actually physically move a lot of machines around to free up some of the more popular machines so that they're more socially distant,' said Seth Stratton, MGM Springfield's vice president and legal counsel.
There are 6-foot high plexiglass dividers, socially distanced slot machines and frequent cleaning and sanitizing. It is all part of the new normal for casinos and other public facilities. Games like poker, roulette and craps will not reopen in this initial phase.
Mgm Free Slot Machines Online
MGM has also retrofitted its property to increase outdoor seating options by 200% and installed a giant screen for guests to enjoy entertainment.
Video: Avis Budget CEO on the surging demand for rental cars (CNBC)
Food and beverage service will also see big changes. Guests will not be allowed to walk around the casino with a drink, and beverage service will be limited to seated customers who are actively playing.
Dining options will be limited at first, and diners can use QR codes to view the menu and place their orders instead of traditional menus.
'We want to reopen the right way,' said Kelley. 'By placing health and safety as a top priority, we think we have created a compelling option to our guests to make that choice in a safe way.'
As coronavirus cases in the United States exceed 3.3 million, Massachusetts is seeing declines. The state has seen a total of 111,000 confirmed cases and 8,325 deaths.
For the town of Springfield, the reopening is welcome news. MGM Springfield opened in August of 2018 and in just two years, the casino has become a key part of the local economy. It employs about 2,500 workers, and makes up 3.8% of the city's $730 million budget.
'You can see there has been a huge dip in hotel revenues, meal revenues .. plus the jobs. We had about 2,500 jobs that went by the wayside,' said Mayor Domenic Sarno.
About 700 employees will return to work initially, with others being phased back slowly.
'It's very good to get them back on board,' said Sarno.
Amid coronavirus shutdowns, MGM's first-quarter revenue dropped 29%. MGM said it expects second-quarter revenue to be even 'more significantly' impacted.
'The spread of Covid-19 and developments surrounding the global pandemic have had, and we expect will continue to have, a significant impact on our business, results of operations and financial condition,' the company stated.
To help with the cash crunch, Sarno said that Springfield is working with the company to delay tax payments. MGM Springfield pays about $100 million annually in local taxes.
Slot Machines At Mgm Springfield
The casino brings more than 6 million visitors to the area, driving business for local restaurants and hotels.
'This is a new normal right now, but we look forward to getting back to that new normal,' said Sarno.