Monday, January 18, 2010

Mohegan Gaming Authority Slot Revenue Falls About 5% In First Quarter

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The Mohegan Tribal Gaming Authority´s combined slot machine revenue at its Pennsylvania facility and the Mohegan Sun fell by about 5 percent for the three months of October through December, the first quarter of MTGA´s fiscal year 2010.

MTGA´s slot revenue at the Mohegan Sun dropped 8 percent during these three months compared to the same period last year while slot revenue at its Pennsylvania facility increased by about 6 percent.

Last Friday Mohegan Sun reported that the last month of the quarter, December 2009, saw close to a 10 percent decline in slot revenues compared to December 2008 while Foxwoods reported less than a 1 percent decrease in its December slot revenue.

Total slot machine revenue, MTGA´s largest source of revenue, was $232 million for the first quarter which consisted of $180 million generated at Mohegan Sun and $52 million in Pennsylvania.

Foxwoods casino, about ten miles away from Mohegan Sun, reported $153 million in slot revenue for the months of October through December, a 2.2 percent decline from the same period in the prior year.

Slot machine revenue is the total amount lost by customers and before any expenses are deducted. MTGA pays the state of Connecticut 25 percent of its slot revenues and pays about 60 percent of slot revenue in taxes and fees at the Pennsylvania facility.

MTGA is expected to release its first quarter earnings, which will include the quarterly slot revenue figures here, on February 5.