April 12, 2019

Mohegan's March slot revenues fall 6.7%

Photo | Mohegan Sun
Photo | Mohegan Sun
Mohegan Sun's Vista Lounge at Wombi Rock.

Mohegan Sun's slot revenues continued to slide in March, marking the ninth straight month in decline.

Mohegan Gaming & Entertainment (MGE) on Friday posted slot revenue of $51.1 million last month, down about 6.7 percent compared to $54.8 million in the year-ago period.

The amount slot bettors wagered in March, known as the "handle," was $628.1 million, also down almost 8 percent vs. $682.5 million in March 2018.

Mohegan, located in the Uncasville section of Montville, has recorded monthly slot revenue declines since July. Slot revenues at the casino, which were flat in June, last rose in May.

The lower slot revenues, a trend also being felt by Foxwoods Resort Casino, continue while MGM nears its eighth full month in operation and as other casino venues in the Northeast come online.

Still, Connecticut casino operators have said MGM has had a smaller impact on its gaming and entertainment revenues than expected.

Mohegan and Foxwoods, meanwhile, are attempting to regain some of those lost gaming dollars in the northern half of Connecticut through a $300 million satellite casino in East Windsor. The joint project was recently approved by federal regulators.

The casinos are also looking to expand their gaming operations through sports gambling, which has become a hot-button issue at the state Capitol as states like Rhode Island, New Jersey and Pennsylvania have legalized it.

Mohegan last month inked an online and on-site sportsbook should the state legalize sports betting.

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