Thursday, July 15, 2010

Flash: June Slot Revenue Shows Continuing Declines; Mohegan Down 3.6%, Foxwoods Down 11.7%

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Slot revenues continue to slide at both of Connecticut's Indian casinos. Mohegan Sun reported a 3.6 percent decline in its June slot revenues compared to the same month last year while Foxwoods recorded a decline of 11.7 percent.

In dollar amounts, Mohegan Sun had $59.6 million in slot revenue and Foxwoods recorded $51 million in slot revenue.

Mohegan Sun's slot revenue in June was about 20 percent below its highest June slot revenue on record, which was in June 2007 ($74.5 million) before the declines began to set in, and is the lowest June slot performance since the casino's Sunburst expansion opened in 2001 when about 2,500 additional slot machines were added to the casino's gaming floor.

Foxwoods' slot revenue in June was about 27 percent below its highest June slot revenue on record, also in June 2007 ($69.8 million).

Casino slot revenues are typically compared to the same month in prior years due to the seasonal nature of the casino business in Connecticut. Revenues are higher in summer months and lower during the winter months.

The amount of free slot play redeemed by customers during the month of June, as an enticement to play, has not yet been published on the state's Department of Revenue website.

Both casinos pay the state of Connecticut 25 percent of their slot revenues.