BUSINESS IN BRIEF: Revenues for casino slot machines drop again in Connecticut
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The Patriot Ledger
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QUINCY —
Revenues for casino slot machines drop again
The operators of the Mohegan Sun and Foxwoods casinos in Connecticut continue to report declining slot machine revenues.
Foxwoods reported slot revenue of $54.8 million in September, a 10.2 percent decline in total slot handle from the same month a year ago. But the president of the authority that runs the casino said the results represented the casino’s strongest take, in terms of market share, since May.
Meanwhile, Foxwoods’ big rival also reported declines. The Mohegan Sun gaming authority said slot revenues at the Mohegan Sun casino and at Pocono Downs in Pennsylvania declined by 6 to 10 percent in the quarter that ended on Sept. 31, to a range of $250 million to $260 million for the quarter. Table game revenue took a bigger hit, though, with a projected drop of 23 percent to 26 percent.
The casino industry had largely been considered recession-proof until this recession, when cash-strapped consumers curtailed their casino trips and casino operators suffered under the weight of mountains of debt from recent expansions.
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