It's Chinese nationals, either those here for business or those visiting students/colleges.I was thinking about how strongly the theming at Encore deliberately evokes Chinese aesthetics. How much do we think that is trying to appeal to the local Asian American population and how much is trying to appeal to Chinese nationals?
Equilibria -- sounds as if due to the Wuhan Coronavirus -- not too many of either will be flying into Boston for a while at leastIt's Chinese nationals, either those here for business or those visiting students/colleges.
DZH -- just a bit off topic -- but have you ever gotten a shot showing the two really Really-Big Natural Gas fired generation units cranking a spewing a giant plume on each of the stacks
Encore Boston Harbor continues to struggle in Massachusetts. The $2.6 billion casino reported a 10 percent decline in gross gaming revenue (GGR) last month.
Casino win for Encore Boston totaled $48.57 million in January. That’s a 10 percent decline compared to December, when the casino kept $54 million.
Encore’s struggles weren’t felt at the state’s two other casino properties. MGM Springfield GGR came in just shy of $21 million, a 10.5 percent gain on December. Plainridge Park, the slots-only facility, won a little more than $11 million, which was a $1 million premium on the prior month.
Wynn projected its first-year full GGR would total $800 million. Through seven full months, casino win is at $362.5 million. Encore Boston continues to alter its operations away from the VIP towards more of the general public, the latest developments being lower table minimums and cheaper food offerings.
MGM told the state its casino would win around $34.8 million each month. Since opening in late August of 2018, the casino has never once hit even the $30 million mark. Its best month on record was its first – September 2018 – when GGR was $26.9 million.
Unless you live in another city, I think you're going to feel bad if this place closes. I've never spent a quarter on the gaming floor but value the millions in environmental cleanup, expanded paths, beautiful gardens, job creation and incentive to transform an industrial afterthought.Not gonna feel too bad for them if it tanks.
I wonder if you still stand by this?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.
This, not sure what they were expecting.If Massachusetts approves sports gambling the revenue should improve. I think they made some early errors with this, in particular cutting the "frills" that actually might attract more people, such as the arena-type venue. Also, what kind of casino hotel doesn't have a (huge) pool? I went once and there really wasn't much of anything to do here besides gamble or go to an expensive restaurant. I do want to return one more time to try the buffet but that's it.
I'm not really sure why you keep dragging on about this, but yes, I do. See my initial post that your quote was in reference to:I wonder if you still stand by this?
When supply is fixed it is optimal to set prices high when demand is high, then lower prices as demand drops. This is standard best practices across all industries where supply is relatively inelastic, and everybody does it.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.
If I'm reading this right, theyre underperforming expectations but not exactly struggling. The thing about a casino is that you have essentially guaranteed profit in the gaming operation. And all the revenue trends cited here are month on month comparisons, not same month year on year (for obvious reasons). If you told me that January was slow season for a resort casino in the northeast, I'd believe you. I'm sure all the other hotels in town, and the entertainment venues, have less revenue in January than in, say, August. And I'm sure most of the European tourists come in August.More trouble in paradise