Encore Boston Harbor Casino | 1 Broadway | Everett

dshoost88

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August Gaming Revenue Report is in; brought in $4M more than July. The 1.5x ratio of money coming in for table games to slots is eye-poppingly high. No Vegas casino sees that ratio of table games to slots.

September Gaming Revenue Report is in:
 

Czervik.Construction

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Looks like MGM Springfield and Encore Boston are doing some damage...

Revenue generated by slot machines at Connecticut’s two casinos continued a steady decline in June, down for the 12th consecutive month amid new regional competition.
Foxwoods Resort Casino reports it made $35.3 million in slot machine revenue last month, almost 12 percent less than the $40.1 million it kept the previous June.
https://www.courant.com/business/hc-biz-casino-revenue-tumbles-20190717-fqqnvpbbnvd4zajmhsai6rwkby-story.html
 

stefal

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But the Nuke (or Gas) wouldn't be *installed* near Encore and therefore would not really be a help for reliability in the core.
Nuke (and any new supply) would still have to find a route into the core. For that they *are* (we need a thread for) currently boring a new line from Horn Pond in Woburn to Everett (mostly under Winthrop St in Medford), but I don't think that future-proofs the core.

Only when the core is way closer to meeting its own Rooftop solar + Storage or maybe some Harbor wind would they allow anything in the station across from the Casino to close
Do you have a link to that project?
 

meddlepal

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I guess the question is if this is normal for a new casino?
That's what I am wondering, but I'm still bearish on the prospects for this Casino. There's a number of problems:

Fixable:

1. The games are too expensive and the odds suck.
2. 4am liquor last call.
3. Hotel is outrageously expensive even for Boston.
4. No pool, shitty shopping options.

Not Fixable:
1. Hard to get to.
2. In the heart of Millenial territory so it can't pull in the middle-age and older crowd that Casino's thrive on.
3. Above average educated demographics in this part of the state.
4. Scenic industrial wasteland.
 

mass88

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That's what I am wondering, but I'm still bearish on the prospects for this Casino. There's a number of problems:

Fixable:

1. The games are too expensive and the odds suck.
2. 4am liquor last call.
3. Hotel is outrageously expensive even for Boston.
4. No pool, shitty shopping options.

Not Fixable:
1. Hard to get to.
2. In the heart of Millenial territory so it can't pull in the middle-age and older crowd that Casino's thrive on.
3. Above average educated demographics in this part of the state.
4. Scenic industrial wasteland.
This is the biggest issue, imo. $50 minimums on the weekend at tables is going to turn a lot of people off. They need to cut these down to $15-$25 in a lot of areas on the floor.

I'd also add their drink service is slow, they need to add another bar or two on the gaming floor and they need to add more non-gambling options to get people in there. A concert/show venue would be great.
 
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JumboBuc

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This is the biggest issue, imo. $50 minimums on the weekend at tables is going to turn a lot of people off. They need to cut these down to $15-$25 in a lot of areas on the floor.
This sounds a lot like "nobody goes there anymore, it's too crowded."

I am sure that Wynn knows what they're doing with respect to game pricing. The reason weekend games are so expensive is because they can set minimums that high and still fill the tables. When demand drops and the tables stop filling up at $50 minimums, then the minimums drop and the tables fill up again. Basic econ 101: when demand is variable but supply/marginal cost of production is fixed, price rises and falls with demand but quantity of output stays constant.
 

tangent

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This sounds a lot like "nobody goes there anymore, it's too crowded."

I am sure that Wynn knows what they're doing with respect to game pricing. The reason weekend games are so expensive is because they can set minimums that high and still fill the tables. When demand drops and the tables stop filling up at $50 minimums, then the minimums drop and the tables fill up again. Basic econ 101: when demand is variable but supply/marginal cost of production is fixed, price rises and falls with demand but quantity of output stays constant.
Yes, all the casinos do the same thing pretty much. Encore drops table prices when demand wanes. I think what was frustrating the first time I went was that there were high prices and some unstaffed tables so they simply hadn't been able to ramp up to meet demand and had unused table capacity.

I went back recently and table prices were lower ($15 during the afternoon on the weekend), parking was free and plentiful, as crowded as any vegas or CT casino but not overly crowded. The location itself looks amazing... I think the state/city really do need to facilitate and accelerate the redevelopment and beautification of the river front so that the area is more of an attraction. The Encore is generating a lot of money for the state and city and it should be enough to make steady progress in that area which should translate into steady growth in revenue and taxes in a reinforcing cycle of progress.
 

jass

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I am sure that Wynn knows what they're doing with respect to game pricing.
I dont like this assumption.

Reminds me of Atlantic City a few years ago.

3 or 4 casinos closed due to "lack of demand"

These same casinos were charging $400 a night for rooms and $10 for parking.

No shit there was a lack of demand.
 

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