Wednesday, September 15, 2010

Mohegan Sun Reports A 2.8% Decline In August Slot Revenue, Foxwoods Slot Revenue Falls By 6.3%

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Connecticut's two Indian casinos reported declines in their slot machine revenue for the month of August compared to the same month last year.

Mohegan Sun reported $67 million in August slot revenue, a decrease of 2.8 percent compared to August 2009, while Foxwoods reported $59.2 milion, a decrease of 6.3 percent.

The amount of free slot play, given by both casinos to customers as an incentive to visit their properties, is not yet available for August.

Both casinos pay the State of Connecticut 25 percent of their slot revenues in exchange for their casino monopoly in Connecticut.

The Mohegan Sun at Pocono Downs reported a 0.7% decline in slot machine revenue in August when compared to August 2009. Table game figures for Pocono Downs for the month of August, the first full month of table games in Pennsylvania, has not yet been reported.

The Mohegan Tribal Gaming Authority reported to the Securities and Exchange Commission today that post-employment severance charges as a result of eliminating 475 employee positions, a move that was announced yesterday, is estimated at $8 million to $10 milion and will largely affect the fourth quarter that ends on September 30, 2010.