February 15, 2019

Mohegan Jan. slot revenues down 9.3%

Photo | Mohegan Sun
Photo | Mohegan Sun
Mohegan Sun's Earth Tower.

Mohegan Sun on Friday followed Foxwoods Resorts Casino in reporting it recorded its seventh consecutive month of lower slot revenues in January.

For the month, Mohegan Gaming & Entertainment (MGE) said it netted $40.7 million in slot revenue, down about 9.3 percent compared to $44.9 million in the year-ago period.

The amount slot bettors wagered in January, known as the "handle," was $501.5 million, also down about 11.5 percent vs. $567.3 million recorded in Jan. 2018.

Mohegan, which legally must provide 25 percent of its slot revenues to Connecticut, said it contributed $10.1 million to the state's general fund in January.

Mohegan has recorded monthly slot revenue declines since July, mirroring a trend experienced by its tribal neighbor, Foxwoods.

Slot revenues continue to fall at Connecticut casinos after MGM Springfield opened in August, taking a bite out of the region's gaming market. But local casino executives have said MGM's impact has been less than projected.

Mohegan and Foxwoods are working together to combat lost gaming revenues in the northern corridor of the state through a proposed $300 million satellite casino in East Windsor, recently billed as Tribal Winds Casino.

Comments
Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

 
Today's Poll Would renaming Bradley Airport make the airfield more marketable?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media