By JOSH RESNEK
Revenues at Encore in Everett soared in July but fell an unexpected $2 million in August.
More than $57 million in gaming revenues made August a success but the expectation industry-wide had been for a broader expansion of gaming revenues.
The $2 million decline was surprising but not unusual for the industry which tends to experience big gains and steep declines from time to time.
Casino analysts said the $2 million downturn was not significant enough to note anything but a month-to-month decline.
They also reiterated that the coming of online sports betting to Massachusetts at some point is going to vastly increase Encore’s revenues.
Slot revenues declined by $1.5 million over July’s, which had soared previously by $4 million over July’s.
Slot revenues came in at $32.4 million.
Table game revenues increased by about $300,000.
Table game revenues totaled $25.4 million.
Encore’s $57 million in gaming revenues represents the third-highest amount of money gambled away at the casino since it took in $54 million in December 2019.
Several months back Encore executives put more slot machines into the casino area be- cause of rising demand.
That strategy seems to have paid off.
MGM Springfield sank about $4 million from a robust high in July.
MGM slots took in $16.8 million in August. Table games generated $4.9 million.
The $4 million drop in revenues equaled an almost 20% drop in revenues for the gaming giant.
Plainridge, which is a slots parlor only, maintained its income scoring only a minor change in revenues – about $200,000 less than in July.
The advent of electronic sports betting in Massachusetts is believed to create an atmosphere that will cause steep jumps in earning potential for Encore and MGM.
MGM and Wynn Resorts are already giants in electronic sports betting at their casinos elsewhere where it is allowed.