By Josh Resnek
Encore Boston Harbor reported weaker than usual revenues at its Everett complex in May.
The total take for table games and slot machines was down almost $6 million from April – which was a banner month.
In April, Encore took in $63.7 million as compared with May’s $58 million.
The Spring take was not as hearty as the late winter spurt Encore experienced.
Some casino analysts claim inflation could have been the cause of the weaker showing.
Tourist visitation to Boston is not what it used to be. Plane flights have grown expensive as the cost for jet fuel has soared.
Conventions and business meetings have plunged in the aftermath of the Pandemic, when much of that business was simply cancelled out and the casino closed for several months.
Fewer visitors and higher expenses are likely to keep gross figures lower at a time when Wynn Resorts stock is cruising at an unheard of $54 a share on the NASDAQ – which is still correcting into a Bear market. Table games at Encore earned $32.6 million in April.
May’s table game revenue came in at $29.6 million.
Slots slowed to $32.6 million in May as compared with $34.1 million in April. Hotel revenues are not reported nor are the earnings of the half dozen restaurants and event venues that are a constant at the Encore.
The Encore job site reported 101 jobs available as of Tuesday afternoon.
The jobs range from transportation attendants to valets to retail cashiers.
There is also a need for dealers, call center reservations and retail sales associates. Encore jobs provide a wide range of benefits with industry standard higher pay scales.
The MGC also reported lower revenues at MGM Springfield and at the slots track, Plainridge Park Casino.
The state’s monthly tax take for the State of Massachusetts was down by about $2.3 million from April.
Year to date revenues remain on the stronger side for the industry in Massachusetts despite the May slowdown.