A license hasn't been awarded yet.What happened to the 3rd "vegas style" casino?
From the Mass Gaming Commission website.Is there information on how Mass is using the taxes from the casinos?
From the Mass Gaming Commission website.
Also, what is the purpose of the racehorse development fund? With Suffolk downs now closed why would MA choose to allocate money there?
The answers to all of your questions can be found on the Massachusetts Gaming Commission webpage.Thanks dshoot88! I don't understand how to interpret this graph though. Is Encore gaming revenue tax only contributing to the the sections in gold on the graph? Also, what is the purpose of the racehorse development fund? With Suffolk downs now closed why would MA choose to allocate money there? What is even more surprising given all of the transportation talk as of late is that allocations towards transportation is such a small percentage. Why not adjust the allocations to a higher amount to address our transit infrastructure funding gaps?
If a politician's relative rides a horse, they get money from this fund. Duh.
From the Mass Gaming Commission website.
Thanks dshoot88! I don't understand how to interpret this graph though. Is Encore gaming revenue tax only contributing to the the sections in gold on the graph? Also, what is the purpose of the racehorse development fund? With Suffolk downs now closed why would MA choose to allocate money there? What is even more surprising given all of the transportation talk as of late is that allocations towards transportation is such a small percentage. Why not adjust the allocations to a higher amount to address our transit infrastructure funding gaps?
What happened to the 3rd "vegas style" casino?
I believe it's all tied up in federal court over whether the Wampanoag have the prerogative to build one with or without the state's blessing, so the state hasn't issued the third license to any operators.
Why not just award the third license to the Mashpee tribe and be done with it?
Wynn is arguably the most successful casino operator in the world. The Wynn in Vegas is the most profitable casino in the US. And Wynn's table game pricing policy is entirely in line with standard industry best practices and economic theory.
Unless you have any evidence that Wynn doesn't know what they're doing with respect to game pricing, I'll move forward under the assumption that they do.
‘We were wrong:’ Encore Boston Harbor drops $50 table game minimums, paid parking
Encore Boston Harbor killed its $50 table game minimums and parking fees as it seeks to draw crowds beyond the high rollers.
The $2.6 billion Everett resort casino now offers $15 table game minimums and dropped its parking fees for self parking. The company also plans to roll out a tiered card system to offer rewards for a variety of players, said Brian Gullbrants, Encore’s new president.
“We thought we could charge for parking here in Boston, and we were wrong,” he said. “We have now made self-parking free for all guests, 24/7. We thought we could charge for some of the transportation like boats and premiums buses. We were wrong.”
Woops.
Encore Boston Harbor drops $50 table game minimums, paid parking
Realizing Massachusetts patrons won't pay, Encore Boston Harbor officials said they lowered the costs in hopes of making the $2.6 billion resort casino more accessible.www.masslive.com
“We thought we could charge for parking here in Boston, and we were wrong,” he said. “We have now made self-parking free for all guests, 24/7. We thought we could charge for some of the transportation like boats and premiums buses. We were wrong.”
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.
The "we were wrong" quote is about parking/transportation. It has nothing to do with table pricing:
Also, table revenue isn't the problem:
My argument all along has been that Wynn should charge high table prices for as long as they can, then lower them when demand dries up. Charge high prices to get the high rollers, then drop prices accordingly when you still have space. This is how markets work, and every successful business does it.
Wynn will now say BS like “The last thing we want to do is be a Vegas casino in Boston. We want to be a Boston casino in Boston," but that's politics and PR. They know what they're doing and they're following the book of profit-maximizing best practices to the letter. You can be sure that whenever demand surges and floor fills up, table game minimums will go right back up to $50 or wherever they were.
Snapped this Friday:
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I'm really confused by this story. The news is months old. Parking was made free back in August and I personally experienced the $15 tables when I was there in early October. Is this just a marketing ploy to re-release an old announcement? https://www.bostonglobe.com/metro/2...ston-harbor/VDrCgbdej5IsKvgPKm5KtI/story.htmlEncore Boston Harbor drops $50 table game minimums, paid parking
Realizing Massachusetts patrons won't pay, Encore Boston Harbor officials said they lowered the costs in hopes of making the $2.6 billion resort casino more accessible.www.masslive.com