Slot machine revenues hit a high for Encore Boston Harbor in October, but table game revenue continued to slide greatly in the month – down by almost $10 million from August – and leading to an overall decline in gaming revenues for October.
The news came in the context of an investor call this month that showed the Everett casino, located on the Charlestown line, outperformed the two Wynn Las Vegas casinos combined in the third quarter of 2019. That news, and the above October numbers, come as revenues across the gaming industry continue to decline in the United States and to perhaps level off in the hot Chinese market.
Neither Encore nor the Massachusetts Gaming Commission (MGC) comment on the monthly numbers.
The good news for Encore was that the slot revenues, which have been described as “underperforming” in past months, are on the increase. In fact, the revenues for slots hit the highest number Encore has had since opening, logging in $22.28 million in October on total slot wagers of $276.48 million – a number also up from last month but significantly down from the $359 million high in August.
Overall, the total wagers still eclipsed $300 million in October, coming in at exactly $300.01 million.
The curious part was that table games – which were the hottest item at Encore since opening day – have been on the slide. In August, they were up to $32. 2 million in revenues, but in September decreased $5 million. In October, that decrease continued with another $4 million slide – ending at $23.5 million.
The total gross gaming revenues sat at $45.8 million, which was down $3 million from September.
Interestingly, the total wager number (which is a special calculation of Total Slot Coin-in added to the table game revenues) sat at more than $1 billion since opening. The total number there is $1.38 billion wagered.
At the MGM Springfield casino, total revenues were up from September by about $1 million, on the strength of an increase in table game revenues. The total numbers were still far lower than Encore’s though, with $21.1 million in total revenues there.