Figures released Monday by the Massachusetts Gaming Commission (MGC) show the state’s three brick-and-mortar gaming licensees generated combined revenue of $50.3m last month. The $2.6b Encore property, which was only open for the final week of June, brought in $16.8m during that span.
That’s only around $3.2m less than MGM Springfield brought in last month, and around $3.2m more than what Penn National Gaming’s slots-only Plainridge Park Casino (PPC) reported. The $4.2m in taxes Encore paid the state brought the total tax take to an unprecedented $15.8m for the month.
Like most Wynn properties, Encore is targeted at a more upscale class of gambler—the initial rate for a standard room was $650 per night—and that unspoken ‘begone, peasants’ policy was reflected in the property’s gaming revenue split.
Encore’s slot machines brought in $9.1m in its opening week, while MGM Springfield’s slots took in $14.7m and Plainridge Park reported $13.5m. However, Encore’s table games kept $7.67m, nearly $2.5m more than MGM’s tables took in all last month.
Encore’s opening week revenue was significantly better than MGM Springfield’s first week total of $9.5m, reflecting the Encore property’s more favorable geographic location than Springfield’s relative isolation in the southwestern corner of the state.
MGM Springfield has so far proven a disappointment to its owners, who initially predicted first-year revenue of around $416m. Instead, through its first 11 months of operation, the property’s revenue total stands at a mere $232.5m. And MGM’s June revenue was around $2.3m less than the property took in during May, at least in part due to the newer, shinier competition. (Plainridge Park’s June result was down $1.3m from May.)
However much pain Encore might be causing its Massachusetts rivals, the venue doesn’t intend to rest on its laurels. On Monday, Encore announced a partnership with New York’s Saratoga Race Course and the New York Racing Association. The deal will see Encore sponsor the second floor of the all-new 1863 Club at the Saratoga track and offer special deals at Encore for Saratoga fans. Encore will also sponsor two races during the 2019 Saratoga meet.