Wednesday, July 16, 2008

Steep Slot Machine Revenue Decline At Mohegan Sun In June

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June slot machine revenue at Mohegan Sun fell by approximately 9% in June to $67.8 million. June's results are the second worst monthly slot revenue decline since April 2007, when slot revenues first began to trend downward.

In June, $805 million was wagered, before payouts, at the slot machines versus $861 million in June 2007.

Mohegan Sun slot machine revenue has declined in 9 out of the last 10 months. The only exception was May, when slot revenue increased by less than 1 percent. Although the amount wagered at Mohegan Sun's slot machines fell in May, the percentage of those bets kept by the casino increased and resulted in a net slot revenue increase for that month.

Foxwoods casino, owned by the Mashantucket Pequot Tribe, reported June slot revenue of $63.6 million, also about 9 percent less than June 2007. The decline comes despite the opening of a $700 million expansion in mid-May which included hundreds of additional slot machines. Foxwoods posted a 7.7 percent increase in May slot revenues.

July is generally a busy month for Connecticut's Indian casinos. A record amount was wagered at Mohegan Sun's slot machines last July, which was the only month in its history to have recorded over $1 billion in total slot wagers.

Slot machines at Mohegan Sun generate the bulk of the Mohegan Tribal Gaming Authority's total revenues.