Encore Boston Records Increase in December

Encore Boston Outperforms Other Massachusetts Properties

January 27, 2020 TamaraTam

Massachusetts-based properties are still struggling with revenues.

About the Report

Massachusetts Gaming Commission (MGC) has just released a financial report which shows that Encore Boston Harbor made about $54m in revenue this past December. With this result, the property has outperformed its best figure of $52.5 made in August last year.

If we take a look at specific games, we can see that Encore Boston had one of its best months regarding slot revenu. Only in this past December, the property generated $22.6m, or $200k below November’s result. At the same time, table game revenues appeared with the second-best result generating $31.4m, which is $850k lower than August’s figure.

Encore’s tables have increased in popularity ever since the venue reduced its table game wager minimums from $50 to $15.

Results of Other Properties

Taking into consideration other Massachusetts-based venues, we can observe a significantly different story. MGM Resorts’ MGM Springfield, located in the southwest of the state, recorded a sharp decline in revenues. As a result, it reached $18.95m in December which is a $1m lower figure than November’s total and about $750k lower than the previous highlight in January 2019.

The same situation has been seen in Plainridge Park Casino specialized for slot chances. The property has recorded $10.2m in revenues, which is $800k lower than its worst figure in November.

It is also important to mention that Encore Boston Harbor sured MGM in total revenues for 2019. The Wynn owned casino has made $314m compared to the MGM figure of $252.6m. Another Massachusetts-based venue, Plainridge Park, reached the level of $151.9m which is 11.4% lower from 2018’s total result. The owner of the property, Penn National Gaming, has recently issued the statement claiming that the company will struggle to survive among strong competitors in the state.

Connecticut Slots Decline

MGM Springfield and Encore venues have been seen as the main culprits for the modest result of Mohegan Sun revenues dropped 11.8% to $43.9m. However, both venues recorded a double-digit drop in slots handle which is in correlation with better performance of state leading casinos – Encore Boston and MGM Resorts.

Source:

“Encore Boston punishing Massachusetts’ other casinos“, Peter Amsel, calvinayre.com, January 15, 2020.