Encore Says It Lost $41.7 Million in Its First Full Quarter; Boston subpoenaed by grand jury in marijuana corruption pr (Springfield: limo, casinos)

[redplum33]

Originally Posted by redplum33

Casinos make more money by limiting the number of table games.

Originally Posted by BostonBornMassMade

This one is making more money off tables games though-its an anomaly.

You misunderstood my comment. Limiting the number of table games allows the casino to raise the table minimums, which forces people to bet more if they want to play. It's just supply and demand.

The casino controls the demand by limiting the supply. If there's tons of people waiting to play at the $25 tables, they'll make them $50 tables. If there's a lot of people waiting to play at the $50 tables, they'll make them $100 tables. And when they can't fill the tables, they lower the minimum.

If they add a whole bunch of tables, the casino will lose money. And it's not because there would be less slot machines; it's because they wouldn't be able to control the demand at the table games.

[matrix5k]

Encore is not family friendly so the only people who can go are singles, DINKs etc. I would have gone while my wife and I were DINKs but not anymore, they don't even allow kids in the buffet. Massachusetts is family oriented.

[btownboss4]

Whatever Encore cleaned up a superfund site I don’t really care if it fails.

But with Hynes closing maybe it can host some smaller conventions if they have the space.

[GeoffD]

Originally Posted by BostonBornMassMade

This is what they said about MGM and that’s not going to well. Quite frankly, if you lose money as a brand new casino in a booming economy during the summer when folks are vacationing-that’s not a good sign. I understand Boston is a different market than Springfiel but it’s younger with more entertainment options and more traffic.

Realistically, I don’t see long term success for e casino until they add an entertainment venue/complex on those 11 acres. Rent out the rest of the space to chain restaurants and fast casual spots. Also remove some slots, expand the table games and offer lower minimums. You can retain the exclusive tables and pricing but you gotta make the place more inviting to local folks-that’s why they’re launching a tiered rewards system.

11 acres of brothels might work.

[lrfox]

Originally Posted by BostonBornMassMade

This is what they said about MGM and that’s not going to well. Quite frankly, if you lose money as a brand new casino in a booming economy during the summer when folks are vacationing-that’s not a good sign.

Based on what? With any new business, including casinos, there are adjustments that need to be made in the period after opening. Almost nobody guesses the market exactly right from the start. The success or failure of the casino will depend entirely on its ability to adapt and understand the market here. Q1 losses aren't surprising. In fact, they're to be expected. They'll adjust the workforce, play to their strengths with the gaming preferences, and make additional tweaks. If they're still reporting $40+ million in losses after about 2 years, we know there's a problem and can start the "failure" talk. But now? Please.

Originally Posted by matrix5k

Encore is not family friendly so the only people who can go are singles, DINKs etc. I would have gone while my wife and I were DINKs but not anymore, they don't even allow kids in the buffet. Massachusetts is family oriented.

How many casinos outside of the resorts in Vegas are "kid-friendly?" Honest question. I've been to a few casinos and don't know that I've ever seen a child, let alone anything child oriented.

[mdovell]

Entertainment is why mgm went to Springfield. Rumor has it they offered to buy the mass mutual center from mcca but they declined. Personally I think they'll buy symphony hall from the city eventually. The amount of concerts here has grown exponentially.

Encore will do well but it takes tuned to adjust. Let's be honest here the 24/7 operations in the area are rare outside of Walmart.

Retail is hard anywhere. Chain stores aren't doing well and they aren't expanding. I talked to an Ikea rep a year ago and they have no interest in new stores. Between online and in store pickup it's hard to justify.

[porterhouse]

Originally Posted by redplum33

You misunderstood my comment. Limiting the number of table games allows the casino to raise the table minimums, which forces people to bet more if they want to play. It's just supply and demand.

When people are 3 deep around the craps tables and they are all open, they're probably going to add more craps tables if that continues. The casino space in Everett is larger than the Wynn and Encore in Vegas. They're going to tweak the mix a bit.

[BostonBornMassMade]

i think just the initial 5 star resort thing is impractical and not going to succeed. Tweaking will largely mean downscaling and humblnig the casino's approach in a noticeable way. It can succeed-its a casino-just not the way they had hoped.

[BostonMike7]

Originally Posted by matrix5k

Encore is not family friendly so the only people who can go are singles, DINKs etc. I would have gone while my wife and I were DINKs but not anymore, they don't even allow kids in the buffet. Massachusetts is family oriented.

My wife and I were looking to do a night there as a way to get away from the kids for a night but stay local, but in pricing it out it's just too expensive for what you get. At the end of the day, I don't want to spend $500ish for a hotel room in Everett and spend $100/person on dinner.

So I still want to go? Sure, but need costs to come down a bit

[lrfox]

Originally Posted by BostonBornMassMade

i think just the initial 5 star resort thing is impractical and not going to succeed. Tweaking will largely mean downscaling and humblnig the casino's approach in a noticeable way. It can succeed-its a casino-just not the way they had hoped.

I disagree. It's been the pricier/higher stakes things (like table gaming) that have been successful so far and minimums remain high which goes to show that they are still in high demand. Slots, the marquee lower-stakes attraction, have under performed. What that means is that you'll likely see an adjustment on the part of the Casino to reduce the overall number of slot machines, increase the number of table offerings, and replace underutilized slot games with more of the ones that are doing well. On top of that, you'll see tweaks in the workforce, drinking/dining options, transportation options (boats and coaches are expensive to run), etc. These are all pretty standard adjustments casinos have to make when they're new and adapting.

And we haven't even hit on sports betting which will likely be one of the biggest (if not THE biggest) draw at the casino once the state gives the OK. Wynn knows what they're doing, and the casino is likely to be fine. The sky is falling hysterics after Q1 are drastically premature.