CT continues to report declining slots revenues, that might be a reflection of market saturation, declining disposable income, or the flawed fiscal policy of exploiting gambling addiction.
Casinos' November slot revenue down
Tribal owners of the Foxwoods and Mohegan Sun casinos reported year-over-year declines in their November slot revenues today.
The Mashantucket Pequot Tribe, owner of Foxwoods Resort Casino and MGM Grand at Foxwoods, said its "win" for the month was down only 1.4 percent over November 2008, while the Mohegan Tribal Gaming Authority reported a 10.8 percent slide at Mohegan Sun.
Mohegan Sun still took in more slot revenue than Foxwoods, winning $59.6 million at its 6,709 machines in November. The Foxwoods casinos won $53.7 million at 7,451 machines.
Both Foxwoods and Mohegan Sun had reported year-over-year declines of around 4 percent for October.
The Mohegan authority remitted nearly $15 million, or 25 percent of its November slots win, to the state Division of Special Revenue, while the Mashantuckets’ payment to the state totaled $13.7 million.
By comparison, Atlantic City’s 11 casinos reported last week that their gaming revenue for November was down 13.4 percent over the same month in 2008. That includes a 9.5 percent decline in slot revenue and a 21 percent decline in table-games revenue.
Connecticut’s casinos do not regularly report their table-games revenue.
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