Encore Boston Harbor Business is Booming as Workers Threaten Sept. 1 Strike

Union workers at Encore Boston Harbor say they will set a strike deadline for Wynn Resorts to meet their contract demands. If the sides fail to reach mutual terms, Unite Here Local 26 and Teamsters Local 25 say they’ll announce the exact date and time they will walk off the job during an event scheduled for tomorrow (Sept. 1) at 6:30 pm.

The two unions tell Casino.org that workers and union leaders will gather tomorrow evening outside Encore Boston Harbor where they’ll announce when the strike will begin.

After the strike announcement, the unions will conduct picket captain and line formation training with union members. The seminars will be conducted in both English and Spanish.

Encore Boston Harbor Has Strong Margins

The unions have regularly cited the claim that Encore Boston Harbor “took in $847 million in Boston last year.” But that number refers to revenue, not profits.

The property’s earnings before interest, taxes, depreciation, and amortization (EBITDA), a commonly used metric to measure financial performance and profitability, was $236.7 million. That marked a 4.2% decline from 2024, 8% lower than 2023, and 2.75% below the property’s 2022 result.

Encore Boston Harbor EBITDA

2024: $236.7 million

2023: $257.4 million

2022: $243.4 million

2021: $210.1 million

2020: ($23.8 million)

2019: $23.1 million

*Encore Boston Harbor opened on June 23, 2019

EBITDA measures a company’s overall financial performance from its core operations. However, EBITDA does not mean net profit, or the final line after subtracting all expenses.

“Business owners and stakeholders often use EBITDA for a number of reasons, but because it excludes certain costs, it may provide a skewed picture of profitability,” explains Capital One Business

The bank suggests revenues versus EBITDA provides a clearer picture. For 2024, Encore Boston Harbor’s $846.9 million in revenue against $236.7 million in EBITDA represents a 28% margin.

“Generally, an EBITDA margin between 10% and 15% is considered good, while a margin under 10% could indicate the business is facing some operational challenges,” Capital One Business said.

The unions claim that Wynn Resorts and its shareholders are getting rich on the backs of workers. Unite Here President Carlos Aramayo said the very people who provide Wynn’s famous five-star service at Encore Boston Harbor are being paid on a “contract worse than a Hampton Inn.”

Encore Boston Harbor Labor Talks

Unite Here Local 26 and Teamsters Local 25 represent various employees at the $2.6 billion Wynn Resorts property that’s located across the Mystic River from Boston in Everett. The union workers include housekeepers, cooks, servers, bartenders, slot attendants, and warehouse personnel.

The unions are seeking wage increases of $10 per hour over four years and an increase to the starting minimum base pay for all workers to $25 an hour. The unions also want assurances that current health care benefits be preserved and pension guarantees for older workers.