CT: Continued Declining Revenues

CT’s Casino Haul Hits Decade Low

Connecticut’s two resort casino made their lowest annual contributions to the state in a decade in the recently ended fiscal year, continuing a steady drop in casino gaming revenue since the mid 2000s.

Foxwoods total contribution for the state for this past fiscal year will be $169 million, its lowest state contribution since 1998, when the casino had 2,000 fewer slot machines generating revenue.

That means even less money is available to be spread among the 169 cities and towns for to fund education and other services.

Mohegan Sun total contribution to the state for this past fiscal year will be $190 million, its lowest state contribution since 2002, when the casino had 1,000 fewer slot machines generating revenue.

Although the casinos operate on different fiscal years, the state government’s fiscal year ends on June 30 and tracks Connecticut Division of Special Revenue tracks the casino revenues and contributions based on the July-June fiscal year.

The total win for the year at Foxwoods and Mohegan Sun continued the steady drop of revenues from the casino’s all-time highs in the mid-2000s. Mohegan Sun’s total win for the fiscal year of $749 million is the lowest since 2002; and Foxwoods’ total win for the fiscal year of $652 million is the lowest since 1997.

This past month reached long-time lows for Mohegan Sun and Foxwoods in June for their slot win.

Mohegan Sun slot win was down 3.6 percent from June 2009. That $59.6 million total was the worst June for Mohegan Sun since 2001, when there were 3,000 fewer slot machines.

June marked the fifth time in the past 12 months that Mohegan Sun failed to generate $60 million in slot win. Before this fiscal year, Mohegan Sun had achieved that milestone for every month since February 2003.

Foxwoods slot win was down 11.7 percent from June 2009. That $51.0 million total was the worst June for the casino since 1997, when there were 3,000 fewer slot machines.

June was the worst slot win month for Foxwoods in the past 12 months, losing out January and February that had $51.6 million each.

Foxwoods is hoping to bounce back with some new attractions at its property to generate more business. The luxury bowling lounge High Rollers and the comedy club Comix will open in a few months.

“We are confident these exciting property developments, paired with our action-packed fall entertainment lineup, will keep visitors coming through our doors,” said Interim President of Mashantucket Pequot Gaming Enterprises William Sherlock in a statement.