The Encore Casino and Hotel generated almost $20 million in gaming revenues during its first week in business at the end of June despite the Sunday opening, according to figures compiled and released Monday afternoon by the Massachusetts Gaming Commission.
For Everett public officials and for Encore officials themselves, the first week’s revenues at nearly $20 million is a staggering figure compared with all other gaming entities operating in the state.
If such weekly revenues can be maintained, then the annualized gaming revenues generated by Encore will be in the $1 billion+ range during its first twelve months in operation.
The state took in more than $4 million as its cuts of the gaming revenues during this first week, a figure certain to have raised eyebrows in the governor’s office.
Casino experts all agree, Encore’s first week should be exceeded by more substantial weeks in the months to come.
Followers of Wynn Resorts financials were all abuzz on the Internet about the first week’s results.
At this level, the gaming industry is able to push up volume and profits substantially, allowing in some quarters for a 6-10% jump in gaming revenues.
When you hear people talking about going to Vegas, everyone talks about the buffets. Whether its the glamorous buffet at the Bellagio or one of the off strip buffets where you can choose from blue or yellow casseroles, people love them.
Encore doesn’t miss out here either.
Upon paying the host at the buffet entrance, one is ushered into a beautiful Willy Wonka-like eating area with giant flower arrangements and fruits all around. Your drink order is taken, soda, water and coffee are included in the price ($40) but alcoholic drinks are not. From there you have free reign to grab a dish and head for the food.