Massachusetts’ casino industry has been struggling to get back on track since March. The state’s biggest casinos are still seeing low revenue figures. There’s also been a spike in Covid-19 cases here recently. As a result, casino officials have just announced new hours at Encore Boston Harbor.
This Wynn Resorts-owned property is one of the biggest gambling venues on the East Coast. Changing the opening hours here is a big move. Today, we’ll take a look at what is changing with the casinos in MA.
Let’s get into it!
Massachusetts’ Casino Industry Has Been Slow to Recover
Over the past decade, the Northeast region of the United States has developed a large and successful gambling industry. As most know, Atlantic City in New Jersey was the first true gaming destination to appear in this region. As time went on, New York, Pennsylvania, and Pennsylvania began expanding their gambling industries, too.
Massachusetts was fairly late to the party. It wasn’t until a few years ago that major commercial casinos began operating here. The first was MGM Springfield. About a year later, Encore Boston Harbor opened its doors.
The latter proved to be the more successful casino of the two. Encore Boston Harbor immediately began attracting a huge number of players from MGM Springfield. Despite its somewhat unusual location in Everett, this venue has proven to be a major success.
Of course, 2020 halted the progress being made by these casinos. In March, all of these venues were forced to shut down. It wasn’t until July that the state’s commercial casinos were given permission to reopen to the public.
Things have been slow to recover. In September, for example, Encore Boston Harbor brought in just under $43 million. That’s a major drop from the $49 million earned in September of 2019. These drops are expected to continue for at least the rest of 2020.
To make things worse, the casinos in this state are now being forced to change their opening times. This will make things even more difficult for the industry.
Here’s a Look at the New Hours at Encore Boston Harbor
Massachusetts isn’t the only state with a struggling gambling industry. Every state has seen casino issues come up this year. It’s a major problem for casino companies and no one seems to know when things will begin returning to normal.
Massachusetts has been seeing a steady increase of Covid-19 cases recently. As a result, the state government has recently begun announcing new regulations. That includes limiting the operating hours inside major casino-resorts.
We’re now receiving updates on the new hours at Encore Boston Harbor. Beginning on Friday, this property has announced it will be forced to close its doors between 9:30 PM and 5 AM. It’s almost guaranteed to lower this venue’s revenue figures even more.
Interestingly, this property has also announced it will close its hotel until further notice. It makes sense when considering the casino’s new operating hours. A spokesperson for the company released a statement on this situation to the media this week.
“Encore Boston Harbor supports and will adhere to the additional directives put forth by the Commonwealth aimed to reduce the ongoing risk to public health,” the statement said. “As a result, we are analyzing the impacts of the directives on our resort operations and will adjust accordingly to be in compliance.”
We’ll need to wait and see how this affects this property. Hopefully, the Wynn Resorts venue is able to remain profitable during these difficult times.
Major US Casino Companies Are Struggling
This recent announcement will take a toll on Wynn Resorts. Prior to the shutdowns in March, the Encore Boston Harbor was one of the biggest revenue generators for this company. This will take another toll on an already-struggling business.
Wynn Resorts is far from the only company to see losses this year. Many are now looking at what’s happening with Las Vegas Sands. This Sheldon Adelson-run casino company recently announced it was interested in selling its biggest venues.
It seems that LVS is ready for a change. Sheldon Adelson seems ready to retire. It’s reasonable to assume that the events unfolding this year initiated this decision. We may see more decisions like this one made over the next few months.
There’s never been a situation like this one. Not long ago, officials within the American Gaming Association began asking for more aid from the federal government. These officials believe the future of the country’s casino industry is at stake.
The new hours at Encore Boston Harbor will remain in place until further notice. We’ll be sure to offer updates if things change here.
Are you surprised to see these new regulations set in place in Massachusetts? Let us know in the comments section below!