Connecticut tribal casinos’ revenues drop in August

Connecticut casinos continue to suffer from the new MGM casino in Massachusetts.
Connecticut casinos continue to suffer from the new MGM casino in Massachusetts.

The two Connecticut tribal casinos posted decreased slot revenues during August, keeping the downward trend already seen in July.

US.- It seems to be quite a difficult moment for the two tribal casinos in Connecticut. The venues, operated by the Mohegan Sun and Mashantucket Pequot tribes posted decreased revenues yet again.

According to recent figures, Connecticut tribal casinos posted less in slot revenues than a year before. However, it was less worrying than July’s reported decline.

Mohegan Gaming & Entertainment (MGE) operates Mohegan Sun and posted a 6.3% dip. Slot revenues dropped to US$50 million, while handle fell 3.8%  to US$611 million. 

The Mashantucket Pequot Tribal Nation operates Foxwoods Resorts, which posted a 4.8% dip. Slot revenues at the venue reached US$39.5 million and its handle US$518.9 million, down 5.2%.

July’s results

The opening of the Encore Boston Harbor in Massachusetts impacted on 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.

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