Encore Revenues Show Dramatic January Decrease in Table Games

They say never to tout your success too soon, and if one does, they should knock on wood.

It doesn’t appear like Wynn Resorts CEO Matt Maddox knocked on any wooden objects after the quarterly investor call earlier this month when he reported that table game revenues at Encore Boston Harbor had been quite strong. That’s because the January revenue numbers for table games plummeted by $7 million after having shown good growth every month since October.

That, however, was countered by a very strong slot revenue numbers and a very large coin-in number for the slots – the second highest coin-in number since the resort opened.

The big news came at the tables, where numbers went from $31.4 million in December to $24.4 million in January. That decrease set back the table games number to what it was in November – when it grew to $24.5 million.

Table games had been hailed as a strength of the resort, with slots being described as underperforming by Maddox during the investor call on Feb. 6. It wasn’t certain if the dip in revenues was due to seasonal slow-downs.

However, the good news for January was slots.

The revenues for slots were the highest that the Encore has ever achieved, with $24.16 million logged in January. That came on a $327.7 million coin-in number at the slots, and a payout of 92.6 percent. That was up slightly from the previous month, meaning the slots continued to get looser for the fifth straight month.

Overall, gross gaming revenues decreased to $48.5 million in January, with $12.14 million going to the state in taxes.

The numbers for January were released by the Massachusetts Gaming Commission (MGC) on Tuesday afternoon.

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