Everett, Mass. – So Las Vegas in the form of Encore Boston Harbor arrives on Sunday on the outskirts of Beantown and promises to boost Northeast gaming.
However, some questions remained on the eve of the Great Day.
How efficiently can Wynn Resorts, the owner of the $ 2.6 billion palace, bring tens of thousands of visitors to and from the property every day? What is the threat to Foxwoods Resort Casino and Mohegan Sun in southeastern Connecticut, which rely on a steady stream of well-known artists to drive the business when there is not a large venue?
Will Encore Ever Come Close Wynn managers addressed such questions at a Friday press conference following media visits to the resort casino. Matt Maddox, Wynn's chief executive officer, suggested to Encore that "building one of the first integrated resorts in a major metropolis" was something of an experiment.
"You do not know everything you need right now." he said.
Wynn owns 1
In the meantime, Robert DeSalvio, president of Encore, said the new casino will host events in its 37,000-square-foot ballroom, which features Earth, Wind & Fire, Paul Anka and a boxing match. Advertising venues exist with venues in the Boston area including Fenway Park, TD Garden, Gillette Stadium, and Wang Theater.
"There are so many things that our guests can do," DeSalvio said. "You can go out and explore the area."
He also went on the transport to and from Encore and said, "We encourage something else: leave the car at home."
The parking problems in the Encore Garage space is relatively low – just under 3,000 for a 671-room property with an average of 20,000 or more visitors per day – should provide an incentive to use other modes of transport. Encore operates shuttle buses from "T" stations in Boston and surrounding towns, as well as neighboring communities, and has reserved a parking space where rides can be arranged. It commissioned Boston BoatWorks, a local yacht builder, to build a mini-fleet of luxury water taxis.
Scott Smith, a director of Boston BoatWorks, said three of the ships were ready, and a fourth was due in August. They will operate all day, transporting the Mystic River between the dock of Encore and the Port of Boston, each carrying 35 passengers on a 20-minute joyride.
"We are ready to build more," Smith said. [Encore] It is expected that Encore will divert the business from MGM Springfield, Mass.'S premier gambling resort, as well as from Foxwoods, Mohegan Sun and Rhode Island casinos.
"We are active in tourism," he said. "We will attract significant international tourism. People want to come to Boston.
He declined to talk about Encore sales forecasts, saying only that he believes that the Nongaming assets are doing quite well. Most gaming analysts assume that a new casino will earn 70 to 85 percent of the gaming revenue it receives when it gets due in its first year. This measure is expected to earn Encore about $ 560 million in the first year. The lawmakers of Massachusetts have set the limit at $ 540 million.
The two resorts that Wynn owns in Las Vegas generate substantially more revenue from non-games than games. At its three resorts in Macau, China, the opposite is true. Maddox said he expects Encore Boston Harbor to operate somewhere between the two extremes.
Encores Nongaming's assets include Memoire, a nightclub, and Mystique, an Asian-owned restaurant owned by Big Night Entertainment, which operates Shrine, Red, Foxwood, High Rollers, and Scorpion Bar Foxwoods Encore's restaurants also include Rare, where the steaks are rubbed with olive oil worth $ 300 per bottle, and Sinatra, which operates in partnership with the Sinatra family.
DeSalvio, who spent a decade in Foxwoods in 2006, said Encore is sure to take some customers out of the Connecticut casinos.
"If they are the rural model, we are the urban model," he said. "Boston is vital, this integration into the community is really exciting, Connecticut has a very large body of both, what they offer is very comprehensive, some Eastern Massachusetts customers are lost, but they can adapt – they already have some Things done, they have the space.
"For all of us in this business, it's about learning how to be competitive," DeSalvio said. "I do not have a big venue – not at this stage. We have to find out what works, what we need. We'll see what happens.
Encore is expected to have more of an impact on Foxwoods than Mohegan Sun, as it's closer to Foxwoods, and Mohegan Sun, who is closer to MGM Springfield than Foxwoods, was out of the Western Massachusetts casino, whose gaming revenue has lagged far behind the projections
Everett Mayor Carlo DeMaria, who joined Encore executives on Friday, testifies to the impact the casino already had on his city, saying that before Encore could be built, Wynn would need to spend $ 70 million to $ 80 million. Spend dollars on cleanup after a Monsanto Chemical Co. plant leaves the Superfund site, and Wynn also built a park and hired hundreds of Everett residents to work in the casino, said DeMaria.
"We were Always this grim industrial city – tough guys playing football, "he said, adding that Everett will now be known for a lot of me
Maddox said he was most proud of the more than 5,000 workers hired to work at Encore, a figure that is projected to rise to 5,800 and amount to $ 300 million in annual pay.
Almost forgotten Apparently it was the difficult time before the opening of Sunday, which was marked by the review of the gaming license by the Massachusetts Gaming Commission, after it was reported that Steve Wynn, the company's namesake and former chairman, sexually assaulted employees would have. The commission ruled in April that Wynn can keep the license, provided they pay a fine of $ 35 million. An additional fine of $ 500,000 was imposed on Maddox for not investigating the employee's harassment complaint.
Less than a month ago, MGM Resorts and Wynn confirmed that they were talking about selling Encore Boston. Within days, both sides said the talks were over.
"Encore Boston Harbor is not for sale," Maddox said Friday.