The president of Encore Boston Harbor has apparently been named a vice-president of Wynn Resorts and will be leaving the Encore in Everett for the company’s home base in Las Vegas.
Brian Gullbrants, who has been near the top of the management ladder at Wynn for about 13 years, has headed up Encore Boston Harbor since replacing Robert DeSalvio in October 2019.
Gullbrants opened the noted Encore Casino and Hotel in 2008 in Las Vegas.
Wynn officials did not respond to the Leader Herald for confirmation of the change reported to us by sources familiar with the goings-on at Encore Boston Harbor.
Gullbrants is being replaced by Wynn Resorts Executive VP of Operations at the Encore Boston Harbor Jennifer Holaday, according to the source.
Holaday will be the third leader of the Encore Boston Harbor since its opening in June 2019.
She inherits a business that was beset by the restrictions placed upon it by the pandemic, and she will take over leadership at a time when the casino and hotel are just beginning to flex their muscles again.
Wynn Resorts undaunted, feels profits will rebound
By JOSH RESNEK
When the stock market closed Monday afternoon, officials of Wynn Resorts released the company’s first-quarter earnings report.
It wasn’t pretty.
But then, it wasn’t meant to be pretty.
For the fourth consecutive quarter, Wynn reported deplorable earnings, mainly the result of the COVID-19 pandemic, and the impossible business situation the casino and hotel world was thrown into and which it hasn’t yet come out of.
The resiliency of casino stocks is famous during hard times.
Investors and analysts know this: very few businesses can generate money and profits like casinos and their hotels when they are operating at full capacity.
Stock analysts and traders understood this and compensated for it.
Unbelievably, Wynn stock went up in anticipation of earnings being reported but ended down slightly at the end of the trading day. It closed Monday not too far away from its 52-week high of $143.88, proving that bad earnings don’t necessarily mean very much to investors trading on the NASDAQ exchange.