Encore Boston Harbor sees nearly $17M in gaming revenue in 1st week
In its opening week, Encore Boston Harbor collected nearly $17 million in gaming revenue.
“This was the best opening period for a new casino in a long time,” said Alan Woinski, president of New-Jersey based Gaming USA Corp.
Encore reported $16.8 million in gross gaming revenue, more than $2 million per day, according to data released Monday by the Massachusetts Gaming Commission.
Wynn Resorts predicted that the resort will rake in more than $800 million in gaming revenue its first year. If it keeps its current pace, annual gaming revenue would be around $770 million.
“Usually the first 30 days of a new casino opening are very strong, so it’s not surprising,” Union Gaming analyst John DeCree told the Review-Journal via email. “However, Wynn Resorts executives said they haven’t even really started marketing to their higher end players yet until they have a few months of smoothing out the operations, so it looks like Encore Boston is off to a good start with a promising outlook.”
Wynn Resorts spokesman Michael Weaver declined to comment Monday on the resort’s marketing plans.
The company’s report to the commission shows that $7.7 million came from table games and $9.1 million came from slots.
“I expected high table game revenue after what I saw there, but the number was higher than I expected,” Woinski said. “Slot revenue was good, not great, but that may improve in July given how a lot of the mass crowd stayed away the first week because of the concerns over traffic and parking.”
DeCree said the gaming revenue from slots was “mostly in line with expectations” and agreed that table game revenue exceeded expectations.
The $2.6 billion, 671-room resort opened June 23 with 3,158 slot machines, 143 table games and 88 poker tables. Unlike most casino debuts in Las Vegas, the Encore Boston Harbor opening happened on a Sunday morning amid concerns about traffic.
Contact Nicole Raz at nraz@reviewjournal.com or 702-380-4512. Follow @Nicole0Raz on Twitter.
Lawsuit
A class action lawsuit is accusing Encore Boston Harbor of cheating gamblers out of their winnings as state regulators disclose the new casino's first week earnings.
The Superior Court suit filed by New York resident Richard Schuster says the Everett casino is paying out less for certain winning hands at some blackjack tables than state regulations permit. It was filed Monday in Middlesex County Superior Court.
Wynn Resorts spokespersons didn't comment. The Massachusetts Gaming Commission says it's reviewing the suit.
— The Associated Press
