Encore Boston Harbor Revenue Up 8%, MGM Springfield $144M Short Of Expectations
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Massachusetts’ two biggest casinos both posted revenue gains in August, but it still wasn’t enough for one to hit a first-year revenue target.
MGM Springfield’s $21M August gaming revenue was up 3% from July, but its $274M first-year revenue is still about $144M short of MGM Resorts’ anticipated debut year forecast, Casino.org reports. The positive spin is the August showing is an improvement over June and July, the two worst months for the Springfield casino. The negative? August was the third-worst month for gaming revenue.
Across the state in Everett, Encore Boston Harbor’s $53M August revenue was an 8% increase over July. Most of the gaming revenue is coming from table games, and Encore Boston Harbor President Robert DeSalvio said more table games are being added to the casino floor while the resort's slots business has been “soft.”
Despite the stronger performance, Encore Boston Harbor is expected to fall short of Wynn Resorts’ $800M first-year gaming revenue forecast. The casino’s $976K average daily gross gaming revenue puts it on track to have a little more than $356M in first-year gaming revenue, according to Casino.org.