Encore revenues booming

Takes in $57M during record two months

By JOSH RESNEK

The Encore Casino has recorded record numbers during the past two months indicating a major growth spurt has leveled off just a bit.

Casino income is booming at about $57 million for the past two months.

August was slightly better than September but taken together, they were record-setting months proving the ability of the casino and hotel complex to draw gamblers to its table games and slot machines.

Encore Boston Harbor signage. (Photo by Jim Mahoney)

September revenues amounted to $57.4 million as compared with August revenues of $57.8 million.

With the hotel now open seven days a week and those visiting the facility are increasing in numbers, there is every reason to believe the holiday season could be plentiful.

If it is plentiful for the Wynn Corporation, it is plentiful for the City of Everett.

The city receives $30 million a year from the Wynn Corporation in lieu of taxes.

The city also receives hotel room taxes that in a good year can amount to almost $5 million in added revenue.

The pandemic blunted that stream of income for quite a while and the results of the pandemic lingering about have contributed to weak room rental figures.

The September breakdown by the Massachusetts Gaming Commission reveals that the casino took in $25.9 million in table game revenues as opposed to August revenues of $25.4 for table games.

EVERETT MA. – OCTOBER 15: August 2021 Gaming report. Courtesy of MGC

Slot machines income remained constant, with a small difference separating August from September.

August revenues were $32.4. September’s were $31.5.

The entire difference for the two-month span was about $500,000.

However, casino analysts insist the numbers being generated by Encore in Everett prove the income-generating power of the facility.

Generating $115 million in sixty days is a financial achievement.

By contrast, MGM Springfield revenues were down about $2 million from August.

MGM revenue totaled $19.3 million in September.

Plainridge, which is a slots-only casino was down about $1 million from August.

Plainridge generated $12.7 million in August and $11.9 million in September.

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