Jun 24, 2019 There are more than 3,100 slots and more than 140 table games, in addition to a poker room with a capacity for 88 tables. However, sports betting is an increasingly popular casino offering, and Encore Boston Harbor (Wynn Resorts has an Encore property in Las Vegas as well) is already interested. Dec 25, 2019 Re: Encore Boston Harbor Casino (Everett, MA) - FAQ in OP Sorry for the privacy info above. Basically it got full again which was a huge surprise from the early morning until 2pm before it resorted back to straight stud.
In the first eight days of operation, Encore Boston Harbor generated $16.8 million in revenue, according to the Massachusetts Gaming Commission.
The $2.6 billion resort and casino opened on June 23. In just the eight days of June, Encore generated more revenue than Plainridge Park Casino and was just $3.2 million shy of MGM Springfield. With a full month of July to operate, it’s a near certainty that Encore will overtake the other two properties as the Bay State’s top grossing casino.
Of the total revenue, gamblers lost most of it on the property’s slot machines. $9.12 million in revenue was generated by the 3,158 slot machines on premises. The other $7.67 million came from table games revenue.
Plainridge Park Casino doesn’t have table games and all $13.54 million in revenue came from slot machines. MGM Springfield took in $19.95 million, with $14.7 million coming from slot machines and $5.25 million from table games.
The state collected $15.82 million in tax revenue, with $4.2 million coming from Encore Boston Harbor. Encore and MGM are subject to a 25 percent tax rate, while Plainridge Park is taxed at 49 percent.
If July’s revenue is on par with a shortened June revenue report, Encore Boston Harbor will produce $65.1 million in revenue. The state would receive $16.275 million in tax revenue.
Encore Boston Harbor’s President Robert DeSalvio told the Lowell Sun that they should expect an uptick in revenue as time goes on.
“I will tell you that it takes a while to ramp up and build these properties up to full potential – you have to build a database – so for us, there’s an expectation that it doesn’t come automatically but it will come over time,” said DeSalvio.
The expectations for the property is still $800 million in annual revenue, but DeSalvio said that it was “too early to tell” if the expectations would be met.
In the months leading up to the opening, there were concerns about Wynn Resorts’ gaming license from the state because of Steve Wynn’s alleged sexual misconduct. In May, the commission fined the company $35 million and deemed it suitable to operate in the state.
Massachusetts gaming regulators are still mulling over Wynn Resorts’ 50-year license to operate its upcoming Encore Boston Harbor casino, according to reports. They could potentially yank it. Per the Motley Fool, the multi-billion-dollar casino could be back on the auction block.
The casino is currently under construction and is slated to open in mid-2019. As of late August, Wynn Resorts had spent about $1.4 billion of the $2.22 billion price tag.
According to the report, rivals MGM Resorts, Caesars and Penn National Gaming could be players for the casino. MGM recently opened a casino in Springfield, Mass. Penn National operates a slots parlor in the state called Plainridge Park Casino. Years ago, Caesars failed to win a bid for a Boston-area casino. It was a contentious battle between Wynn and the city of Boston over the sole license, which even included public spats between Boston’s mayor and now-disgraced Wynn Resorts founder Steve Wynn.
“New [Wynn] CEO Matt Maddox explored a sale of Encore Boston Harbor earlier this year, but couldn’t find a buyer at a price that was attractive to Wynn,” the report said. “With regulators considering the possibility of pulling Wynn’s gaming license, it’s not surprising a sale could be back on the table again. The latest rumors of a possible sale come via a website citing a person ‘close to the discussions.’”
The Bay State’s gambling commission is reviewing Wynn’s license thanks to sexual misconduct claims surfacing earlier this year against its founder. Mr. Wynn stepped away from the company and the name was changed from Wynn Boston Harbor to Encore Boston Harbor. The casino sits just outside Boston in the town of Everett.
“The Commission is now aware of and is taking very seriously the troubling allegations detailed in the Wall Street Journal article,” regulators said in a statement in February. “The suitability and integrity of our gaming licensees is of the utmost importance, and ensuring that suitability is an active and ongoing process.'
Regulators have already determined that Wynn hid from them a $7.5 million settlement stemming from alleged sexual misconduct in 2005 with a former employee in Las Vegas.
Also pending is a lawsuit from Mohegan Sun, operator of a nearby casino in Connecticut, seeking to invalidate Wynn’s license. That suit claims favoritism on behalf of the state Gaming Commission. One of Mohegan Sun’s claims is that gaming regulators overlooked the criminal histories of two men who were once investors in the piece of land for Encore Boston Harbor.
Massachusetts eyed about $260 million in annual tax revenue when it granted approval for the Wynn project in 2014. About 4,000 people are slated to work there.
Wynn Resorts’ stock fell to a 52-week low on Thursday.
In 2011, Massachusetts authorized three Las Vegas-style casinos in the state. Seven years later, the state’s plans for a robust casino gambling industry are still in limbo.
Encore Boston Harbor Poker
