Monday, June 16, 2008

Mohegan Sun's Slot Revenue Sees Increase In May

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Foxwoods and Mohegan Sun both reported increases in its May slot revenue figures.

The Mohegan Sun reported its first increase in monthly slot revenues this year after it registered $75.1 million for the month of May 2008 compared to $75 million in May 2007. The increase in Mohegan Sun slot revenue is less than one percent and primarily due to an increase in the casino's hold percentage, which was 8.71% in May. Less money, or handle, was bet at Mohegan Sun slot machines in May 2008 than in May 2007. The total handle for the month of May was $862 million versus $869 million in May 2007.

Foxwoods reported slot revenues of $72.5 million for the month of May, a 7.7% increase over their May 2007 slot revenues of $67.3 million. The total amount bet, or handle, increased to $823 million in May 2008 from $787 million in May 2007. Their hold percentage was 8.81% in May.

The significant increase in Foxwoods' slot revenue increase can be attributed to their mid-May opening of Foxwoods' MGM expansion.

The above numbers for Mohegan Sun reflect slot revenues at Mohegan Sun only, the figures do not include slot revenues from the Tribe's Pennsylvania racetrack-slot parlor.

The two tribal casinos pay the State of Connecticut 25% of their slot revenues in return for the casino monopoly in that state. The combined slot revenues of the two casinos for May was $147.6 million, resulting in casino payments of $37 million to the state for the month of May.