Connecticut casinos continue bad trend
Slots revenue in Connecticut was down by more than 10% for Foxwoods and Mohegan Sun during December operations.
US.- The two casinos in Connecticut continue to struggle, as they once again reported a double-digit revenue decline. This time, the slots revenue fell 10% in December, putting a stop to a short positive trend in Connecticut.
Foxwoods Resort Casino and Mohegan Sun had achieved good performances in October and November, but they came after 15 months os straight losses. With December results in, Connecticut facilities reported 10 months of bad results in 2019.
Foxwoods registered US$33.6 million in slots revenue, or a 10.1% decline over the US$37 million that it posted in December 2018. Mohegan Sun’s figure was slightly worse as it generated US$43.9 million but an 11.8% decline over the US$49.8 million from 2018.
“We knew going into December that it was going to be difficult to match last year,” said Jeff Hamilton, Mohegan Sun’s president and general manager, according to The Day. “There was one less Saturday (this December), which is like taking away a day that’s your busiest day. It’s impossible to make that up.”
A Foxwoods spokesman said: “Although we’ve seen a decline in slot revenue due to increased competition in the New England market, we’re confident that we’ve taken the necessary steps to minimize potential impact on the overall business. We look forward to working with state leaders in the coming legislative session on changes to the Connecticut gaming market that will bring in new revenue and create jobs.”
Tribes may operate sports betting
The state and the Mashantucket Pequot & Mohegan tribes had been trying to come to an agreement on several gambling topics. However, they seem to be unable to meet halfway on a global deal. Still, Governor Ned Lamont said last month that he is optimistic on their chances with a smaller goal like sports betting.
“I had a good meeting with the [tribal] leaders, and I think we’re moving towards places where we can reach agreement,” Lamont said. “The rest of the country and all our neighbouring states are working hard on sports betting… we need to do (the same) to make us competitive in this growing economy. I want to do that in association with the tribes. We’re doing that in collaboration and doing it in a way that mitigates the risk of a lawsuit.”
