Thursday, December 16, 2010

Mohegan Sun And Foxwoods Report A Decline Of About 4 Million Bucks In November Slots

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Mohegan Sun and Foxwoods reported yesterday that their November slot machine revenues, or the casino's win, fell by about $4 million at each casino compared to November 2009.

Mohegan Sun reported November slot machine revenue of $55.6 million, a decline of 6.7 percent compared to the same month last year, while Foxwoods reported slot revenue of $49.5 million, a decline of 7.8 percent. One year ago, in November 2009, Mohegan Sun posted $59.6 million in slot machine revenue while Foxwoods reported $53.7 million in that same month last year.

Over the past twelve months through November, Mohegan Sun's slot machine revenue is down 3.9 percent compared to the prior 12-month period. Foxwoods slot machine revenue has fallen by 5.3 percent in the most recent 12-month period compared to the prior 12 months. Over the three-month period of September through November, Mohegan Sun's slot revenue is down 5.6 percent while Foxwoods slot revenue is down 3 percent. Foxwoods redeemed about $7 million more than Mohegan Sun in slot machine "free play" promotions, given to attract customers to the casinos, over that three month period.

Both casinos redeemed more in slot machine free play promotions given out to customers this November than last year. Foxwoods has historically given out more free play to its customers on a monthly basis than Mohegan Sun and this November was no different. Foxwoods redeemed $5.5 million in free play during the month of November, about $1.2 million more than last November. Mohegan Sun redeemed $4.3 million in slot machine free play in November, about $800,000 more than November 2009.

Mohegan Sun's most profitable November monthly win at the slot machines was in 2006, when the casino recorded $73.3 million in revenue, about $18 million more than this past November's amount. Foxwoods' most profitable November at the slot machines was in November 2003, when the casino recorded almost $65 million in slot revenue, or about $15 million than the most recent November.

Foxwoods no longer overwhelmingly outguns the Mohegan Sun casino in the number of slot machines on its gaming floor. While Foxwoods had about 750 more slot machines than Mohegan Sun a year ago, Foxwoods reported only 200 more slot machines than did Mohegan Sun in figures reported yesterday to the state Division of Special Revenue. Foxwoods reported that 6,605 slot machines were in use during November and Mohegan Sun reported 6,405 machines.

Both casinos paid out to customers about 92 percent of the amount played at the slot machines (Mohegan Sun 91.96%, Foxwoods 91.82%).

Both casinos pay the state 25 percent of their net slot revenues to the state in addition to a fraction of their free play promotions. Combined, both casinos will pay the state about $27 million out of November's slot revenues.