By Josh Resnek
Revenues were down by slightly over $1M from March to April at Encore Boston Harbor Hotel and Casino but it was a big month never the less.
Some victories cannot be equated with revenues, and last month, was a big moment for the Encore Hotel being given a five star designation by Forbes Travel.
It was also a stellar revenue month with the largest take in the casino’s short history.
Last month, Encore took in $64.8M in gaming revenues.
An unbelievable $35.1M was bet using slot machines while $29.6 M was bet at table games.
Then came April.
There was a slight tail-off in gross volume, but the take remained unusually high and steady.A report issued this week by the Massachusetts Gaming Commission revealed that April revenues came in at $63.7M, off just $1.1M from the March results.
The breakdown was this: $29.6M in table game revenues and $34.1M in slot revenues.
The hotel has been crowded with a large number of rooms occupied and very few rooms available.
Getting a five star rating helps rent hotel rooms in Boston.
The MGC announced recently that the Encore Casino will obstacle that we will no doubt overcome. As the Councilor responsible for those racial comments has not seen fit to address us directly and the be asked to up the number of table games that are available for play.
The number of table games has been smaller than usual because of the pandemic’s effect on the gaming business.
However, that was then. This is now.
Encore also successfully maneuvered itself into a position of prominence in the local entertainment world by receiving MGC approval to build a parking garage, an auditorium that cane seat 2500 people, and a bridge to connect the casino property with the entertainment venue.
The casino can continue to host acts inside its entertainment ballroom as well.
The recent drubbing the stock markets have taken has driven down the price for a share of Wynn Resorts stock.
The widely held stock has plunged in recent weeks and is now nearing its 52-week low.
It was trading at $63 on Tuesday.
The 52 week high was $136.