Connecticut casinos post double-digit decline

The two casinos in Connecticut are feeling the impact of Encore Boston Harbor’s opening as they have reported double-digit declines in July.

US.- The opening of the Encore Boston Harbor in Massachusetts was expected to affect Connecticut casinos. With July revenue results in, the previous estimations came true, as both casinos in Connecticut posted double-digit declines.

Foxwoods Resort Casino and Mohegan Sun experienced a double-digit fall in slot machine revenue in July. The opening of Encore Boston Harbor also affected Rhode Island casinos, as Twin River reported the lay off of 95 workers due to a reduction in business.

Mohegan Sun generated US$46.7 million in slots revenue, which is 15.1% less than what it registered in July 2018. Last month’s results represent the biggest year-over-year decline since February 2013.

Foxwoods registered an 11.2% decrease as it generated US$38 million in slots revenue after paying prizes. With July results in, both casinos have registered 13 consecutive months of revenue declines.

June results

Slot machine revenues at the casinos were down 12% and 5% respectively in June. Foxwoods Resort Casino reported that slot revenue declined approximately 12% when compared to the same month a year ago. Mohegan Sun, on the other hand, reported a 5% fall.

Foxwoods reported that it kept US$35.3 million in slots wagers, which is 11.8% less than what it registered in June 2018. Handle was also down 12.7% to US$567.8 million in June at the Connecticut casino.