Encore posts record-high gambling revenues
Casino brings in $68.4m, split equally between slots, table games
THE ENCORE BOSTON HARBOR casino in Everett posted record-high gambling revenues in December, propelled by money spent at the facility’s gaming tables.
The large haul at Encore, combined with fairly strong revenues at MGM Springfield and Plainridge Park Casino in Plainville, yielded nearly $28.8 million in state tax revenues for December — $138,000 more than the previous record in March.
Overall, Encore reported $68.4 million in gambling revenue in December, with $34.9 million from slots and $33.4 million from table games. The take from table games was the highest since August 2019, when the casino took in $32.2 million.
MGM reported $22.4 million in December gambling revenue, $17.6 million from slots and $4.8 million from table games. Plainridge, a slots parlor, reported $12.3 million in revenue.
Paul DeBole, an assistant professor of pollical science at Lasell University who follows the gaming industry, said Encore is somewhat of an anomaly in the casino business because of its unusually high take from table games. Most casinos generate two-thirds of their gambling revenue from slots and a third from table games, he said, but Encore’s take is split almost equally.
“Their table games are outperforming the percentage of gaming revenue from other markets,” DeBole said.
According to DeBole, Encore took in more slot revenue in December than the Foxwoods casino in Connecticut ($29 million) but trailed Mohegan Sun, the other Connecticut casino ($42.8 million). The two Connecticut casinos don’t disclose their table game revenues because the state collects taxes only on the slots receipts.
Encore is seeking to expand gambling across the street to a proposed new entertainment facility across the street. The expansion plans currently calls for a poker room and a sports betting facility, but no slots.
Mohegan Sun lost out to Wynn Resorts in the competition for the Boston-area casino license in Massachusetts.