Connecticut Casinos' Slot Revenue Up For First Time In Two Years

The only state in the Northeast that has received any good news regarding casino revenue in the past couple of years has been Pennsylvania. Connecticut casinos can now be added to that list of one after receiving promising reports for their July revenue.

Mohegan Sun and Foxwoods Casino Resort have gone twenty-six months in a row with declining revenue from their slot operations. In July, the two casinos had an increase in revenue, even if it was less than two percent.

Mohegan Sun increased their revenue in July by 1.8%. The Foxwoods casino slot revenue jumped 1.3%. Foxwoods had only gone fifteen months without a revenue increase, but Mohegan Sun's drought reached twenty-five months. While both casinos were pleased, they understand that more work needs to be done.

"Obviously, it's a step in the right direction," said Mohegan Sun Chief Operating Officer and President Mitchell Etess. "But keep in mind there was an extra Saturday and it took a lot of promotion to drive that revenue." The promotions will have to continue if the casinos are going to continue to expand.

Pennsylvania legislators legalized table games earlier this year, and Delaware is also running table games. Delaware can offer gamblers one thing that neither Connecticut or Pennsylvania casinos can, sport betting.

"In order to thrive in the current gaming industry in the Northeast, Connecticut casinos are going to have to be extremely aggressive with their marketing," said Gaming Analyst Steve Schwartz. "That means they have to keep pulling customers away from Atlantic City."

The gaming industry in New Jersey is in shambles over the past couple of years. The economic recession has given other states the opportunity to catch up with AC casinos, and a current battle over the future of Atlantic City is taking place between lawmakers in New Jersey.

For July, Mohegan Sun slot revenue was $70.3 million. Foxwoods had slot revenue of $64.1 million for the same period. The state made over $34 million in tax revenue from the slots in the month of July.

August 17, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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