By Josh Resnek
Industry sources have revealed that Encore Boston will need approximately $1.2 billion in income during a given year to allow for the profits it is planning to make after the doors open in June.
Also, based on other numbers we are reporting in this edition, the $1.2 billion number appears very low. If MGM Springfield can take in revenues of more than $1.3 billion since August -9 months- then the Encore set-up should go way beyond that figure.
Why? Because the hotel is a five star operation, the only one in Boston.
The casino itself dwarfs the Springfield operation and is located in Greater Boston, a far more attractive revenue generating position to be located in.
Greater Boston’s financial might and the tourist industry here guarantees Encore a huge success, if and when it gets going.
If Encore is denied the license, then another owner will be found to open the casino.
That other owner will generate huge numbers as it doesn’t matter who the owner is.
To be noted – the MGC commissioners are moving like turtles issuing a decision.
Time is apparently not of the essence for the MGC.