Encore Boston Harbor has got off to a flyer generating $48.5m in Gross Gaming Revenue in its first full month of operation, beating analyst predictions.
Information from the Massachusetts Gaming Commission’s monthly revenue report showed that the $2.6bn Everett casino generated over $27.4m from table games and $21.1m slots with tax of $12.1m going to the state. Analysts have pitched the casino’s potential annual earnings to be between $400m and $600m.
Its first month has eclipsed the earnings of competing casinos in the region. MGM Springfield generated $20.3m whilst Plainridge Park, a category 2 slot only casino generated $12.5m. Nearby Rhode Island, casino operator Twin River has said it may have to make 30 table game croupiers redundant due to the impact of Encore’s opening with table revenues down 34 per cent at Twin River last month.
The aim for Encore Boston Harbor is to make the property the ‘top grossing casino in the Northeast.’
Wynn CEO Matt Maddox said: “We’ve seen some really positive impact in the casino on the table game side in Boston. Our hotel is beginning to ramp up and we are working on various offers and promotions to really understand the highly competitive slot market in the Northeast. We believe that with our properties’ location, with our management team and with our product, we will continue to take share in the Northeast. We’re making sure that we’re not going to get into a promotional war with our competitors, who are quite nervous about Encore Boston Harbor.”
The 210,000-square-foot gaming area at Encore is divided into two spacious levels, with high ceilings and hand-assembled red Murano glass chandeliers transplanted from their original home, Encore at Wynn Las Vegas. The first floor features more than 3,100 classic and state-of-the-art slot machines, 143 table games and a stunning casino bar centrally located at the heart of the casino beneath a grand staircase. An 88-table Poker Room on the second level is flanked by secluded terraces overlooking the gaming floor, offering high-end poker, VIP and private-gaming experiences. Located off the main Casino Floor, the exclusive gaming area features a total of 53 high limit slot machines, video poker and reel games with betting minimums ranging from $5 to $500, as well as two private high-limit gaming rooms.