First-Year Encore Revenue Falls Below Projections

Local

Wynn Resorts claimed that Encore Boston Harbor, costing about $2.6 billion, would bring in around $800M in its first-year gaming revenue.  After being open for 3 months, the income has reached only about $175.8M and approximately $115M of that money comes from gaming.  With those figures, Encore is short of the Wynn’s pre-opening projections.

Wynn Resort CEO Matthew Maddox is not worried, and believes that changes made to the resort will encourage growth.  Maddox states he is “learning each and every day how to become more local” and that they have been “tweaking [their] food and beverage product to make sure [they’re] giving the customers what they want”.

Last month, Brian Gullbrants replaced Robert DeSalvio as president and now oversees Encore’s food and beverages.  Maddox also wants to incorporate a sports bar at the casino that could potentially turn into a sports betting bar if MA legalizes it.  Overall, Wynn Resorts is confident that by making some tweaks, Encore Boston will be right back on track with the projections.  Any new business is no stranger to trial and error, even massive casino such as this.

Article Source: https://www.bisnow.com/boston/news/hotel/encore-boston-harbor-earned-nearly-176m-in-first-operational-quarter-101688