Monday, October 18, 2010

Foxwoods September Slot Revenue Closes In On Mohegan Sun But At A Cost

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Mohegan Sun has traditionally held a comfortable advantage over Foxwoods in the total share of money fed into slot machines in Connecticut but both casinos reported close to the same amount in slot revenues for the month of September.

On Friday, Foxwoods reported that its September slot machine revenue was $56 million while Mohegan Sun reported $57.6 million. A major reason for Foxwoods gain of market share in September was due to a promotion that offered customers the ability to get paid more in cash for the points they earned from gambling at Foxwoods.

Foxwoods also gave away substantially more free slot play to its customers, $7.6 million versus the $4.6 million in free play given away by Mohegan Sun in September.

Both Indian casinos pay the state 25 percent of their slot machine revenue and on a portion of the free slot play promotions when that promotion exceeds a certain monthly minimum amount.

Of course the entertainment lineup at the two facilities also plays a part in attracting customers.

Foxwoods September slot revenue reflected an increase of 2.1 percent over the same month last year while Mohegan Sun's slot revenue declined by about 3 percent compared to September 2009. Mohegan Sun's 6,400 slot machines paid out 92.14 percent of the total amount played on their machines while Foxwoods' 6,900 machines paid out 91.78 percent.

The promotion in September, in which players could were paid $1 in cash for every accumulated players' club point garnered from playing at the casino, reportedly drew a significant crowd to the casino, which helped Foxwoods take a 49 percent of September's total Connecticut slot market "win" compared to Mohegan Sun's 51 percent market share.