Wynn Resorts Admits Las Vegas Doesn’t Work in Boston, Reduces Casino Table Game Minimums
Posted on: November 22, 2019, 09:00h.
Last updated on: November 22, 2019, 10:20h.
Wynn Resorts told Massachusetts gaming regulators this week that it has realized the company’s ways of doing things in Las Vegas don’t necessarily work in other places, such as Boston.
The Massachusetts Gaming Commission (MGC) held a public meeting Thursday to discuss the quarterly performances of the state’s two integrated casino resorts – MGM Springfield and Encore Boston Harbor. Both casinos have repeatedly missed gross gaming revenue (GGR) targets.
Encore Boston Harbor President Brian Gullbrants told the MGC that the Wynn property is still learning the market. The casino is Wynn Resorts’ first domestic property not in Las Vegas. However, the company is heavily invested in China’s Macau.
“The last thing we want to do is be a Vegas casino in Boston. We want to be a Boston casino in Boston,” Gullbrants stated.
“We want to be Greater Boston’s hometown casino. And we want everyone to come and feel welcome and like they can have a great time there, whether they are playing or not playing,” he added.
Massachusetts Masses
Wynn Resorts is known for opulence. The company’s founder, Steve Wynn, helped drive the Las Vegas Strip towards becoming a more luxurious destination.
In Macau, Wynn’s two multibillion-dollar integrated resorts cater to the highest of rollers. In Las Vegas, the five-star Wynn and Encore Strip properties offer guests an elegant experience in Sin City.
But in the cities surrounding Boston, such as Everett, where the company’s casino resort is actually located, there’s more of a blue-collar sentiment, where perhaps people aren’t as willing to spend lavishly.
We thought we could charge for parking here in Boston, and we were wrong,” Gullbrants 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 premium buses. We were wrong,” he added.
Encore Boston Harbor has also adjusted its table game minimum from $50 to $15. With free parking, Wynn Resorts is hoping its casino is more appealing to a wider demographic.
Encore Oddity
Slot machines are still king in the US gaming industry. The vast majority of land-based casinos throughout the country make much more money on slots than table games. Slots typically account for 60-70 percent of a casino’s GGR.
But Encore is winning more money on its 166 table games than its 3,100 slot machines. In October, the casino reported its lowest monthly GGR win since opening in late June. Slots won $22.28 million, and tables $23.52 million.
Opening to date, Encore Boston Harbor has won $94.65 million on slots, and $117.98 million on tables – respectively 44.5 and 55.5 percent of the total $212.62 million GGR.
During its bidding for the property, Wynn Resorts told the MGC that it would expect to win $800 million on its casino floor in year one.
“We’re learning each and every day to become more local, make sure we’re giving the customers what they want,” Wynn CEO Matt Maddox said during the company’s earnings call this month.
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Last Comments ( 3 )
Yeah, im new to Encore, and honestly, the slots dont play back a lot, basically you put your money in and are rarely up on the machine. Ive been there at least 5-6 weeks in a row to see it eat up $300-500 fast. I thought I would eventually win at least one time, but after 6 weeks of playing, and watching other peoples bonuses, im convinced they are too greedy. Its probrably a combination of the State and the Casino’s greed. Im done with encore, watched a guy get a $7 bonus on 6 free spins of a $10 bet. Lol You pretty much have to put in $100 to get a $5 bonus Not fun
Here are my suggestions: If Encore wants to receive more participants to attend the casino heres a sure way to do it. Using this method becomes a win win circumstance, everybody wins. Try to include all levels of players. It seemed like the payouts on the slot machines werent paying out enough. You spend 20.00 and not win at least $7.00 back to keep going; thats not good. Tables should start much less like $1.00. I know this may seem low but please keep in mind, the area the casino is located near.The area of the former wonderland dog track. Each bet then was a minimum of $1.00 to $2.00 depending on your bet. They lasted decades. It catered to all levels of players. If you start your tables at a $1.00 and have good payouts. You will make more of a profit quickly. Also keep in mind the foxwood casino starts their tables at $1.00. Residents of massachusetts would rather spend their money here than there. Have coupons, buffet discounts that make sense, a bingo hall. This is what residents go for. People from out of state who live near foxwood would probably want a change of scenery. Give them something thats better than what they are used to. Massachusetts residents from all over like to give group bus trips. Make Massachusetts residents an offer thats better than foxwoods and you will see more participants coming with money to spend at your casino.
Have been to Las Vegas many times and not one Casino out their starts the day with 50$ minimums at table games . As the day goes on they slowly move from 10 to 15 to sometimes 25 but only during peak hours with high demand . To start at 50$ and pay 6/5 blackjack is outrageous . Foxwoods if you don’t mind a little drive is the best casino option around . Free rooms Monday thru Thursday , 10$ table game minimums , free parking , free buffet , 5$ gaming coupons for match play and 3/2 blackjack . The Encore will need to adjust to attract all types of customers not the influx of high rollers they were expecting . The average person goes to the casino with a couple hundred dollars and wants to feel appreciated not taken advantage of