The first resort casino in Massachusetts raked in almost $9.5 million in revenue in just its first 8 days in business.
MGM Springfield, in a statement, said the August revenue figures reported Monday by the Massachusetts Gaming Commission demonstrate the resort casino’s “tremendously successful opening week.”
The state’s 25 percent cut of the gross gaming revenue comes to about $2.3 million.
Springfield gets a tiny share of the revenue, less than one- half of one percent, according to city finance chief TJ Plante.
" If the casino does well, we do well," Plante said. "It is the only variable revenue we have in the whole host community agreement."
Springfield collects $17 million in property taxes annually on the casino.
Also MGM pays the city $5 million annually to cover certain expenses and help pay for community development projects.
