Encore Boston Harbor generates millions during first week
The first week of operations for Encore Boston Harbor was a successful one as the casino generated US$4.2 million in tax revenue.
US.- The Massachusetts Gaming Commission has reported that the first eight days that Encore Boston Harbor was open in the state, it saw gamblers wager more than US$93.5 million on slot machines. Wynn Resorts also reported US$16.79 million in total revenue, which represents US$2 million a day approximately.
The 3158 slot machines generated US$9.12 million in revenue and returned about 90.2% of the US$93.5 million that players put into them as winning. It also held 9.7% for the House. Moreover, the 242 table games generated US$7.6 million in revenue for Encore Boston Harbor between June 23 and the end of the month.
Encore Boston Harbor President Robert DeSalvio said last week on WGBH’s Greater Boston: “So far, so good. However, I will tell you that it takes a while to ramp up and build these properties up to full potential — you have to build a database — so for us, there’s an expectation that it doesn’t come automatically but it will come over time.”
DeSalvio did not disclose information on revenue, but he did comment on its estimations and said it was too early to tell if Encore Boston Harbor will meet the expectation of US$800 million in annual revenue.
Futhermore, the first week of activity at the Boston casino generated US$4.2 million in tax revenue for the state. This figure, however, coincided with the second-worst month recorded for the state’s first full-scale casino, MGM Springfield. Encore Boston Harbor generated US$16.7 million in revenue in just eight days, and MGM Springfield took in more than US$19.9 million in revenue over the full month. Though it is impossible to tell if a full month of operations for the Encore would’ve doubled MGM’s, it is clear that the opening of the new facility stole the show in the state during the last eight days of June.
