Wynn Resorts’ new Encore Boston Harbor Casino in neighboring Massachusetts has started taking a toll on the gambling revenues at the Twin Rivers Rhode Island Casinos.
Wynn Resorts’ new casino started welcoming guests from June 23 and it made impressive revenue gains in the first week of its opening.
The revenue at Twin River’s Lincoln casino dropped about 34% year-on-year to $7.6 million in July. The gambling facility’s revenue from slot machines was down 17% to $32.2 million.
While the gambling operator had speculated a decrease in slot machine revenue, fall in table games revenue came unexpected.
The State Lottery has asked two Rhode Island casinos to remove non-profitable IGT gambling machines. Earlier this week, Rhode Island State Lottery ordered Twin River Worldwide Holding which operates the two casinos in the state to remove 360 of its “underperforming” video slots.
At present, there are 4,364 IGT’s gambling machines in the state. The figures represent a total of 84 percent of gambling machines at Rhode Island’s two casinos. On the other hand, Scientific Games provides 616 and Everi provides 195 gambling machines.
Amidst shrinking revenue, to cut costs the Twin River Casino in Lincoln has also announced to lay off workers. Earlier this month, a spokeswoman for the Lincoln Casino said that the gambling facility could lay off 30 table games supervisors. She said that they are “effectively staffing to the present volume of business on the table games.”