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.

Continue reading By the numbers Encore on a roll

Encore revenues booming

Takes in $57M during record two months

By JOSH RESNEK

The Encore Casino has recorded record numbers during the past two months indicating a major growth spurt has leveled off just a bit.

Casino income is booming at about $57 million for the past two months.

August was slightly better than September but taken together, they were record-setting months proving the ability of the casino and hotel complex to draw gamblers to its table games and slot machines.

Encore Boston Harbor signage. (Photo by Jim Mahoney)

September revenues amounted to $57.4 million as compared with August revenues of $57.8 million.

With the hotel now open seven days a week and those visiting the facility are increasing in numbers, there is every reason to believe the holiday season could be plentiful.

If it is plentiful for the Wynn Corporation, it is plentiful for the City of Everett.

The city receives $30 million a year from the Wynn Corporation in lieu of taxes.

The city also receives hotel room taxes that in a good year can amount to almost $5 million in added revenue.

Continue reading Encore revenues booming

Encore revenues decline in August

Mass Gaming Commission revenue report . (Courtesy of the MGC)

By JOSH RESNEK

Revenues at Encore in Everett soared in July but fell an unexpected $2 million in August.

More than $57 million in gaming revenues made August a success but the expectation industry-wide had been for a broader expansion of gaming revenues.

The $2 million decline was surprising but not unusual for the industry which tends to experience big gains and steep declines from time to time.

Casino analysts said the $2 million downturn was not significant enough to note anything but a month-to-month decline.

They also reiterated that the coming of online sports betting to Massachusetts at some point is going to vastly increase Encore’s revenues.

Slot revenues declined by $1.5 million over July’s, which had soared previously by $4 million over July’s.

Slot revenues came in at $32.4 million.

Table game revenues increased by about $300,000.

Continue reading Encore revenues decline in August

Where does all the money go?

Words like Transparency and Accountability are thrown around daily by public officials. However, transparency and accountability in government are often very difficult to find.

One common question I am asked is: “Where does all the money go?” It is well-known that I take my responsibility for fiscal oversight very seriously as a city councilor. As one of four boys raised in a single-parent household, I understand the need to allocate limited resources in a prudent and responsible manner. Throughout my tenure in elected office, I have gone over every annual budget, line-by-line, and consistently ask questions regarding funding requests. This is to ensure that what is requested truly benefits all our residents and not just a select few individuals. When I served on the Ways and Means Committee, I reviewed every single bill paid by the city. It was a real eye-opening experience. Every resident should have that same opportunity. As your councilor, I have requested more transparency as to how our city spends money. If elected Mayor, I will make all city expenditures accessible to the public, both online and in person. After all, it is your money. You deserve to know where your money is going and how it benefits you.

Continue reading Where does all the money go?

Encore numbers jump, future looks brighter

JUNE 19: The Encore Boston Harbor resort. (Photo by Jim Mahoney)


By JOSH RESNEK

Tourism to Boston remains stalled in a post-pandemic twist.

Though visitation to Boston is rising, the mid-week numbers coming into New England at Logan Airport remain unnaturally low, while weekend, summer, and holiday travel continue to improve.

Encore Boston Harbor Casino and Hotel is reflective of this scenario.

Weekends are busy. Weekdays are a bust.

The hotel remains largely vacant.

The casino is humming.

Encore’s casino took in $52.9 million during the past 30 days.

Continue reading Encore numbers jump, future looks brighter