Awful news! The job losses, along with the loss of tax revenue is tremendous. Everett, Boston, and the state are big losers if this news is true and the place is sold.
It's also not at all clear why a new owner would lead to the doom and gloom suggested by the article.The story is being reported literally nowhere else. I'd take it with a gigantic grain of salt. The casino is still making money.
I cannot imagine this is an easy process. It is not just buying a hotel, it requires re-vetting the casino license. That has to be a long process which would likely mean an extended closure of the property.It's also not at all clear why a new owner would lead to the doom and gloom suggested by the article.
I see no reason to expect it would require a closure. Until a sale goes through, Wynn, who is licensed to operate a casino in Massachusetts still owns it and can continue to operate. For the sale to happen, the prospective buyer would need to jump through the regulatory hurdles before the close, which means up until that date, Wynn could continue operating. Now it's possible that it costs the current owner more to have it open than for it to be closed, but if that is true, good luck attracting a buyer. My guess is that they keep it open, even at a loss until the sale goes through, at which point the new owner will also have an incentive to keep it open.I cannot imagine this is an easy process. It is not just buying a hotel, it requires re-vetting the casino license. That has to be a long process which would likely mean an extended closure of the property.
Encore Boston Harbor's official Twitter account shot down the news pretty strongly. I guess we'll see who's bluffing...
Read above. Encore Boston Harbor is not for sale.The cost of the project was something like-- $2.6 billion.
It opened on June 23, 2019, at a total cost of $2.6 billion. After a remediation process to clean the site, Wynn Resorts constructed
.Encore Boston Harbor - Wikipedia
en.wikipedia.org
Asking price 800 Million Makes you wonder if the revenue is doing that poorly where it can't even service the operating expenses.
Encore Boston Harbor's official Twitter account shot down the news pretty strongly. I guess we'll see who's bluffing...
The story is being reported literally nowhere else. I'd take it with a gigantic grain of salt. The casino is still making money.
Seeing that its their official twitter account and how strongly it was stated as being false, vs leaving some type of open ended ambiguous answer leads me to believe they probably know what theyre talking about.
Am always suspicious of the reports say route. What sources? They have said from the start that it would be a number of years before the casino would be operating with maximum income. They had no expectation that almost half the time the casino has been opened…it would be dragged down with a plague.
That was before The Rona. It was doing very poorly before the virus started.
Right. Some social media flak wouldn't respond to a tweet like that without looping in the higher-ups.
I remember them routinely pulling in over $50m/month, which translates to $600-$700m/year. Their projections were at $800ish million, so yes didn't quite get there, but doing very poorly? In what world?
The person(s) operating the resort’s Twitter account are literally responsible for effectively communicating accurate information to the public.The person who runs the Twitter account isn't going to know anything. Pretty clearly things were not going well, even before the virus, so them wanting to sell doesn't sound so outrageous if they don't think tourism will return to normal anytime soon. But yeah it's going to be tough to sell.
Is the casino even open? If it is, it won't be two weeks from now...
To answer other poster’s question: all guests have to walk through temperature checks. All staff and guests are required to wear masks at all times, unless actively drinking/eating while seated at restaurant or game. All table flames have plexiglass dividers between players and dealers. All restaurant tables are spaced at least 6’ minimum from each other. Staff are routinely wiping down slot machine surfaces (really all touch surfaces) very often, and there are hand sanitizer stations everywhere.