Ticker: State Generates $26 Million in Gambling Revenue in June; BofA’s second-quarter profit drops 32%
Last month, the state’s slot parlor and casinos generated cumulative gross gaming revenue of $93 million, a slight increase from May’s totals and enough to produce nearly $26.2 million. dollars in revenue for the state.
Encore Boston Harbor led the way with just over $60 million in gross gaming revenue for the month of June, about $2 million more than Everett’s casino in May, the Gaming Commission reported.
MGM Springfield brought in approximately $21.15 million in gambling revenue in June, almost exactly the same as in May.
The slot parlor at Plainridge Park Casino recorded about $11.97 million in revenue in June, the only one of the state’s three gaming centers to show an increase in revenue from May to June. Gambling revenue from the Plainville Slot Parlor in June totaled nearly $5.86 million in state taxes and fees.
In total, the state can expect just over $26.16 million in tax revenue and gambling fees from June gambling activities.
BofA’s second-quarter profit drops 32%
Bank of America’s second-quarter profits fell 32%, the latest major U.S. bank to report lower profits after a strong 2021.
Revenue, which rose from $21.5 billion to $22.7 billion year-over-year, better reflects the nation’s second-largest bank’s performance this quarter, largely due to the rise in interest rates and the increase in the level of loans.
Quarterly profit fell to $6.2 billion, or 73 cents per share, the bank said Monday, from profit of $9.2 billion, or $1.03 per share, in the same period a year earlier.
JPMorgan Chase, Wells Fargo and Citigroup all reported double-digit profit declines last week.