Foxwoods June slot machine revenues down 12.3%
Other business lines performing well, CEO says
Mashantucket, Conn. —
Foxwoods Resort Casino’s June slot machine revenue fell 12.3 percent, continuing a downward trend that’s last well more than a year.
Revenue, or what the gambling industry calls “win,” fell to $43.4 million from $49.5 million a year earlier, the Mashantucket Pequot Tribal Nation-owned casino said.
Total intake, or what the industry calls “handle,” declined 12.1 percent to $505.9 million.
Performance in other parts of Foxwoods’ business bolstered overall results for the month, President and CEO Scott Butera said.
Slot machines are the casino’s largest revenue source.
“June produced solid financial results despite the decrease in slot revenue as other business lines performed well,” he said in a press release. “In addition, the closing of our restructuring earlier this month puts us in solid financial condition and allows us to continue to make significant investments in our entertainment facilities.” [Only slot revenue is taxed by the State of Connecticut.]
The restructuring enabled the Mashantucket Pequot tribe to reduce its debt load by $550 million.
Revenue, or what the gambling industry calls “win,” fell to $43.4 million from $49.5 million a year earlier, the Mashantucket Pequot Tribal Nation-owned casino said.
Total intake, or what the industry calls “handle,” declined 12.1 percent to $505.9 million.
Performance in other parts of Foxwoods’ business bolstered overall results for the month, President and CEO Scott Butera said.
Slot machines are the casino’s largest revenue source.
“June produced solid financial results despite the decrease in slot revenue as other business lines performed well,” he said in a press release. “In addition, the closing of our restructuring earlier this month puts us in solid financial condition and allows us to continue to make significant investments in our entertainment facilities.” [Only slot revenue is taxed by the State of Connecticut.]
The restructuring enabled the Mashantucket Pequot tribe to reduce its debt load by $550 million.
Read more: Foxwoods June slot machine revenues down 12.3% - Norwich, CT - The Bulletin http://www.norwichbulletin.com/news/x624130112/Foxwoods-June-slot-machine-revenues-down-12-3#ixzz2ZDZqLkpk
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