Jenny Holaday is president of Encore Boston Harbor, a resort and casino located in Everett, Massachusetts. She’s also a member of the New England Advisory Council, which gives the Federal Reserve Bank of Boston on-the-ground economic insights from leaders of small and mid-sized businesses. We spoke to Holaday about Encore Boston’s diverse operations and impact.

Encore is often seen primarily as a casino. How would you describe the full scope of the resort’s offerings?

We are the largest single taxpayer in New England, with about 3,300 employees and just under $1 billion in revenue. In many ways, we operate like a tiny city – one with a very large bank!

People are often surprised by the range of careers here – it’s far more diverse than most might imagine. Beyond gaming operations, we employ teams across advertising, accounting and finance, a full floral department, facilities, security, and exceptional pastry and executive chefs to name a few. We even operate an adult learning and development program to help employees build new skills to advance and grow professionally.

And you don't ever need to set foot in the casino to enjoy the resort. We have Boston’s highest-rated steakhouse, retail and entertainment, the largest hotel rooms in the city, and an exceptional spa. We also welcome many local guests who visit us simply for a staycation.

How did you get involved in the gaming industry?

It really started with my mom. My parents divorced when I was six months old, and we moved to Nevada to live with my grandparents. It was the 1960s, and my mom – a Catholic, former housewife   in a casino town – never imagined working in gaming. But she needed a job and ended up building a career in the industry. By the time she retired, she was vice president of operations for a beautiful resort in Lake Tahoe.

Even though I grew up around casinos, joining the industry wasn’t part of my original plan. I majored in English and thought I’d become a writer. But as gaming began to expand, I saw opportunities I couldn’t ignore. Once I stepped in, I moved up quickly. And before I knew it, I was on a path that eventually led me here, as president of Encore.

In many ways, it was absolute happenstance – but if you take the long view, a sociologist might say my path wasn’t surprising at all.

What is the biggest hurdle facing the gaming industry right now?

Right now, one of the biggest challenges we’re watching most closely is the rapid evolution of prediction markets. These platforms allow people to wager on virtually anything – from sports outcomes to information and decision markets, even wager on whether this year's corn harvest will be light. Traditionally, these markets are federally regulated by the Commodity Futures Trading Commission and are closely tied to the stock and commodities markets.

Recently, however, a company identified a loophole that enables people to place sports bets through a prediction market, even in states where sports betting is not legalized. This has raised significant concerns across the industry. We’re now engaged in a lot of conversations about the current state and future of prediction markets.

There have been economic challenges recently, but consumer spending has remained resilient in many sectors. Has Encore noticed a dip in spending?

We’ve been fortunate so far and haven’t seen a meaningful dip. That said, we are a consumer-driven retail business, so overall consumer sentiment is always critical for us.
One thing that has helped support our resilience is the strength of our catering, banquet, and group business, and corporate spending continues to be solid. We hold a weekly sales meeting, and I always ask, “Does anything feel like it's softening yet?” And up to now, the answer has been no. So far, so good.

Why do you enjoy being on the New England Advisory Council?

It’s incredibly educational for me. I’m grateful to be at the table with such accomplished business leaders, and I appreciate the opportunity to share some of the challenges we face as a highly capital-intensive business, especially around our development efforts. Because the council members represent so many different industries, I hope those insights are useful to other members as well.
One of the things I value most is hearing what's happening across the broader economy. It gives me a real-time sense of how different sectors are performing, and I bring that perspective back to Encore to help guide our planning and support our continued success.