We have our own identity in this part of the state, to be sure, and for the most part, we’re proud of it. But we seem to be forever measuring ourselves against the other end of the state and lamenting what the yardstick shows.
That’s true when it comes to employers, jobs, vibrancy, bright lights, etc., etc. And now, it looks like we can add casinos to the list, even if we shouldn’t.
Indeed, Encore Boston Harbor opened last month to considerable fanfare — and considerable visitation. Area media outlets have been quick to point out that Encore raked in $16.8 million in revenue its first week in operation, nearly as much as the $20 million MGM Springfield took in for the entire month of June.
It’s certainly very early — perhaps too early — to be drawing serious conclusions, but some media outlets are already portraying Encore as the casino with the high rollers and Springfield as home to the casino that is lagging well behind when it comes to revenue projections.
And while it is true that MGM Springfield isn’t logging the kind of numbers company officials projected it would — in 2014, MGM told the Gaming Commission to expect $418 million in gross gambling revenue its first year, and it would now be very hard pressed to break $300 million for that period — early ‘Tale of Two Casinos’ headlines are not really appropriate.
Encore is a much larger casino located just outside one of the most affluent urban centers in the country. It is also literally a stone’s throw from Logan Airport, making it easily accessible to jet-setting high-rollers. It was always expected to generate more revenue than MGM, especially at the gaming tables, as opposed to the slot machines, and it will always generate more revenue.
Rather than look upon this as two casinos — or three when one counts the slots casino in Plainridge — it would be better to view it as the state’s casino industry, one with three important pieces that are all contributing to the state’s overriding goal when it comes to gaming.
And that is to take some of the huge amounts of casino revenue that were going to neighboring states and keep them in the Bay State.
That’s happening, and at the same time, the casinos, and especially the one in Springfield, have become important economic-development pieces, bringing jobs and a spark to sectors ranging from hospitality to commercial real estate.
It was inevitable that there would be comparisons between Encore and MGM Springfield, and the press didn’t waste any time in making them while at the same time fueling the already-obvious disparities in economic vibrancy between east and west.
It’s OK to do this, but it would be better to focus on the bigger picture, and from what we can see, that picture is coming into focus nicely.