The MGM’s profits have been dwindling, and in June, the casino generated a mere $19.25 million in revenue, marking its worst revenue month since January. In its first week, the Encore nearly matched the revenue that Massachusetts’ first full casino, the MGM Springfield, brought in all month long.
Since its opening, the casino’s Vegas-style glitziness has drawn a steady flow of both card sharks and curious visitors who just want to check out the casino’s flower sculptures, art deco Dunkin’, and massive buffet. To ease law enforcement’s worries about congestion, the casino opened on a Sunday morning, but that didn’t stop thousands from taking rideshares, luxe buses and boats to wait in line at the Encore’s stretch of the Harborwalk for the doors to open. The Encore, a $2.6 billion venture from Wynn Resorts, opened to great fanfare June 23. The table games didn’t do so shabby either, bringing in $7.67 million. About 90.25 percent of that number was redistributed as winnings, and the rest was held back for the house. Gamblers wagered over $93.5 million on the machines. Here’s the breakdown, according to the Massachusetts Gaming Commission. The Encore’s 3,158 slot machines alone brought in $9.12 million, or over half the casino’s total revenue for the first eight days.
