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Another slide in casinos’ year-over-year slots revenues

December 14, 2018 GMT

Slot-machine revenues were down at Foxwoods Resort Casino and Mohegan Sun in November, the fifth straight month in which both casinos have experienced year-over-year declines.

Foxwoods reported Friday that it kept 38.3 million it kept the same month a year ago. Mohegan Sun kept 555.2 million last month, down 5.6 percent, while Foxwoods’ handle of 11.1 million of its November slots revenue to the state. Foxwoods contributed 1 billion resort casino that opened in late August near Connecticut’s northern border.

Casino officials said their losses have not been as significant as they anticipated.

“With MGM Springfield in its first few months of operation, not only did we expect to see an impact, we’ve also consistently and publicly communicated our expectations over the last three years while proactively working with the state toward mitigating any potential loss in revenue,” said Rodney Butler, the Mashantucket Pequot tribal chairman serving as Foxwoods’ interim chief executive officer.

“As we’ve said all along, when competition was added, we anticipated some decline,” said Ray Pineault, Mohegan Sun’s president and general manager. “Actually, we’re pleased that the declines are less than we anticipated.”

Pineault said Mohegan Sun has been making “adjustments” to offset MGM Springfield’s impact. He said the casino’s new convention center and its hotels have been performing well.

“We’re not at all disappointed,” he said.