Encore With Huge Month Brings In Over $64 Million In Gaming Revenues

Online Sports Betting On The Way

By Josh Resnek

Encore Casino and Hotel continues to rack up great numbers as July revenues came in way over June by almost $4.7 million.

July’s numbers continued a winning streak in revenues that has dominated Encore for the past five to six months while the state’s two other casinos are appearing to muddle along with numbers that are not changing very much from month to month.

Slots at Encore brought in a staggering $35 million in July, a whopping $3.6 million more than was generated in June, according to the Massachusetts Gaming Commission, which released the figures as usual on the 15th of August.

Table games games were up $1 million over June at $29.7 million.

The strong gaming figures indicate the continued success of Encore in identifying its customer base and delivering what its customers want, according to casino analysts.

As good as these figures are and have been, gaming revenues are expected to go over the top when online betting is finally available.

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Wynn Resorts Sells Everett Land for $1.7 Billion; Encore Leases Back Property 

February 19: Encore Boston Harbor resort and casino. (Photo by Jim Mahoney)

How Does Everett Benefit From This, If At All? 

 By Josh Resnek 

Wynn Resorts has sold the 33-acre parcel of land and the casino and hotel properties, but not including 13 – acres of land it owns across the street from the casino for $1.7 billion to a San Diego company, Realty Income. 

As part of the transaction, Encore agreed to pay a triple net $100 million a year rent and leased back the properties it sold to the real estate company. 

The company is expecting to sign a 30 year lease with the possibility of one 30 year extension. 

Realty Income will have a 6 year option to buy the 13 acres from Wynn Resorts. 

 The sale and leaseback by Wynn Resorts was announced last week. 

The transaction is subject to customary closing conditions, including required regulatory approvals, and is expected to be completed during the fourth quarter of 2022. 

“Encore Boston Harbor is the premier gaming resort on the East Coast and the valuation we achieved in this sale reflects the property’s quality,” said Craig Billings, CEO of Wynn Resorts. “Equally important, the bespoke structure and terms of the lease allow us to maintain a great deal of operating flexibility across economic cycles. The proceeds of the transaction also provide us with liquidity for several of our upcoming development projects and the potential to retire other debt.”

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By the numbers Encore on a roll

Leader Herald Staff

The Encore Boston Harbor Casino and Hotel racked up impressive numbers in October.

Encore took in $5.3 million more in gaming revenues in October than September, according to records released this week by the Massachusetts Gaming Commission.

Encore’s gaming income totaled $62.8 million as compared with September’s figure, which was a record, of $57.4 million.

Encore generated an unbelievable $32.2 million from slot machines.

Its table game take amounted to $30.5 million. These figures do not include revenues generated by the hotel or rents and revenues generated by the restaurants operating inside the entertainment complex.

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Class Action Lawsuit Filed Against Encore Dismissed by Gaming Commission

By Josh Resnek

A disgruntled gaming customer at the Encore Boston Harbor Casino who filed a lawsuit claiming he was being robbed of his winnings among a flurry of other allegations led to an immediate investigation by the Massachusetts Gaming Commission last week.

The president of Encore Boston Harbor fired back at the lawsuit against the casino before the Massachusetts Gaming Commission Thursday, which claims that customers are being short-changed. “Every single customer gets every dollar and every penny they have coming due to them,” Robert DeSalvio said.

“At no time did we ever round and not give customers back the money that they truly deserved.”

The Massachusetts Gaming Commission agreed.

Following a preliminary investigation, the MGC determined and reported on Thursday last week that Encore Boston Harbor is in compliance with all regulations.

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Wynn Tour Review

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Encore offers 210,000 square feet of gambling with 3,110 slot machines, table games including Baccarat, Blackjack, Roulette, Poker, Casino War and Craps with high-roller rooms and high-limit slots as well.

by Joseph Prezioso

In the words of the Jurassic Park character John Hammond, “We spared no expense,” when talking about the fictional park in the said film, the same can be said about how Wynn has treated its new resort,Encore Boston Harbor.

The resort boast art in every corner your eyes can see, from the Jeff Koons’ mirror-polished stainless-steel stature of Popeye to venetian glass chandeliers and art decorating almost every ceiling surface. A impressive garden with a Preston Bailey carousel made of 83,000 flowers and 11,000 jewels, greets patrons as they enter the resort. The flowers are real and kept up daily.

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