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Local Name:
Wynn Boston Harbor
Budget:
2.4B
Announced:
13 Dec 2012
Construction Start:
04 Aug 2016
Opening:
24 Jun 2019
Area:
5 ha
Developer:
Wynn Resorts Limited
Operator:
Wynn Resorts Limited
Consultants:
Ride Suppliers:
Other Suppliers:
  1. Encore Boston Harbor Announces 2022 Forbes Travel Guide Five-Star Rating.

    EVERETT, MA (April 26, 2022) — Encore Boston Harbor is proud to announce that the resort has been awarded the Forbes Travel Guide (FTG) Five-Star distinction for its hotel and spa. This new rating brings Wynn Resorts a total of 24 Five-Star Awards and secures its ongoing position as the global leader for Forbes Five-Star accolades.

    "Our short time in Boston has seen unprecedented change, yet our commitment to Five-Star service and our immaculate resort have remained a priority since we opened our doors," said Jenny Holaday, president of Encore Boston Harbor. "This achievement is a testament to the excellence our employees embody every day. I could not be more proud of this team."

    2022 was the first year Encore Boston Harbor was reviewed and ranked by the Forbes organization. With this award, the property has the distinction of being the largest Five-Star regional resort casino in North America and the largest resort on the East Coast to be awarded the honor. In addition to the resort's two Five-Star rankings, Encore Boston Harbor's Rare Steakhouse received a Forbes Four-Star award for exceptional dining.
    Source: https://press.encorebostonharbor.com/press-releases/all/encore-boston-harbor-announces-2022-forbes-travel-guide-five-star-rating/s/11e1a682-eac6-489c-96b8-8359755c42d7

  2. CaitlinA is offline Senior Park Investigator
    Join Date
    Apr 2022
    Posts
    15
    Encore Boston Harbor Resort and Casino to Trade in $1.7B Sale Leaseback - Realty Income Corporation has entered into an agreement to purchase the property in a sale-leaseback transaction with Wynn Resorts Limited.

    "Realty Income Corporation has entered into an agreement with Wynn Resorts Limited to purchase Encore Boston Harbor Resort and Casino for $1.7 billion. The property was built for $2.6 billion in 2019. Wynn Resorts is selling the property in a sale-leaseback transaction with an initial lease term of 30 years and annual rent growth of 1.75% for the first ten years. The deal marks Realty Income’s foray into the gaming industry.

    Per the terms of the sale-leaseback agreement, the rent will escalate either 1.75% or CPI, whichever is greater, following the first 10 years of the lease term. The lease includes a 30-year option to renew upon expiration.

    The parties involved expect the deal to generate a 5.9% initial cap rate, and it will generate attractive risk-adjusted returns with immediate earnings accretion. The property also offers an attractive growth model with strong in-place contractual rent growth. Once the transaction is complete, Wynn is expected to represent less than 3.5% of Realty Income’s annualized contractual rent.

    While the hospitality market has been hampered by the pandemic, Boston has a strong gaming market with $2.6 billion of gross gaming revenues annually. Nationally, gaming revenues have fully recovered, and in Massachusetts, the two-year growth rate of gross gaming revenue in Massachusetts was double that of the overall industry at the end of 2021.

    Located along the Mystic River, Encore Boston Harbor Resort and Casino has a 3.1 million-square-foot casino and 671 hotel rooms. It is LEED Platinum-certified with five-star dining, gaming, shopping and entertainment. The property is centrally located with 5.6 million gaming age residents live within a 90-minute drive of the property. Pending regulatory procedures, the sale should close in the fourth quarter of 2022.

    The deal builds on significant hotel transactions in 2021. In April, Bally’s Corp. agreed to acquire Tropicana Las Vegas Hotel and Casino from Gaming and Leisure Properties. The transaction is estimated to value $308 million; and in December MGM Resorts International has entered into an agreement to sell The Mirage Hotel & Casino to Hard Rock International for $1.075 billion. The sales price includes the operating assets of the resort."
    Link to update:
    https://www.globest.com/2022/02/16/encore-boston-harbor-resort-and-casino-to-trade-in-1-7b-sale-leaseback/?slreturn=20220305073245

  3. According to an MGM official, players can expect about 10 to 12 tables in the poker room, down from the total 28 that used to greet them upon entrance to the facility. The Massachusetts Gaming Commission noted in a meeting last month that it had seen a tenfold increase in complaints, many of them over the lack of poker options in the state.

    “We have listened to our poker players and also our previous dealers that want this back as an option at our casino, and we want to provide it to them,” said MGM Springfield Compliance Director Daniel Miller during said meeting.

    Encore Boston Harbor has yet to make a decision about the game returning to its operations, which is set to be announced by the end of this year. Bringing the game back would likely mean the closure of some other table games at the Everett casino, said the casino.
    Source: https://www.yogonet.com/international/noticias/2021/09/24/59459-mgm-springfield-casino-prepares-for-poker-return-at-reduced-capacity

  4. mrg
    mrg is offline resortX Top Investigator
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  5. mrg
    mrg is offline resortX Top Investigator
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    Encore Boston Harbor opened on June 23, 2019



    https://www.instagram.com/p/BzMichDBU9X/

  6. mrg
    mrg is offline resortX Top Investigator
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  7. mrg
    mrg is offline resortX Top Investigator
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  8. mrg
    mrg is offline resortX Top Investigator
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    The construction to our extravagant Garden Lobby continues to progress.


    Source: https://www.facebook.com/WynnBoston/posts/1667212099968072:0

  9. mrg
    mrg is offline resortX Top Investigator
    Join Date
    Mar 2016
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    745
    We are finishing up the 17th floor and we can't wait for you to see the view from up here.


    Source: https://www.facebook.com/WynnBoston/posts/1658537400835542:0

  10. mrg
    mrg is offline resortX Top Investigator
    Join Date
    Mar 2016
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    745
    The framing for the façade along the southwest corner of the building is taking shape.


    Source: https://www.facebook.com/WynnBoston/posts/1655829034439712:0

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