By Josh Resnek
Encore brought in $61 million in September, a great haul for the gaming juggernaut.
September’s take was well above August’s figures which were in the high $50’s of millions of dollars.
It would appear that Encore Boston Harbor Hotel and Casino has found its groove – it’s mojo, so to speak.
Monthly gaming revenues have been averaging close to $60 million or more for the past half year.
In the post COVID atmosphere now developing with a great deal of power and verve, and with online gaming about to be instituted here, the creation as well of a large and comfortable room swarming with huge flat screens broadcasting every kind of sporting event has added to the everyday party atmosphere at New England’s only five star hotel and gaming facility.
Food options are abundant. The treats one can buy are solid products made by the likes of restaurant prodigies Frank DePasquale and Nicki Verano on the one hand to chowing down at the Shake Shack for burgers, fries and shakes on the other.
The energy is contagious. The draw of gaming is growing stronger from month to month.
With the football season well underway, weekends at the casino in the big sports center features large and boisterous crowds…with the electric hum of everything else happening on the gaming floor adding to the energy.
During a recent visit I watched a man at the Craps table place $6,000 he had just won in an effort to double or to triple his winnings.
Nothing lasts forever.
On the roll of the dice, he won only $800 and gave back $5,200 but judging by the expression on his face what came easy went easy and he really didn’t appear to care very much.
Wynn stock price continues to tank with the market which is heading downward apparently reaching what is known as “bear” status.
Wynn stock is at $57 dollars a share this week. That’s down from earlier this year high of about 90, and down again from highs that reached $150 – $180 before the pandemic kicked the wind out of gaming companies, especially those with big stakes in casinos in Macau.
Wynn derives 75% of its income from its Macau location. Macau is controlled by the Chinese government.
The gaming center, perhaps the world’s richest, has been struggling to comeback against a backdrop of China’s zero tolerance policy for COVID.
Gaming in Macau is not what it used to be.
This explains part of the sinking price for a share of Wynn stock.