Mohegan Sun Reports Sliding Casino Revenue For Fourth Quarter

Mohegan Sun and Foxwoods joined forces this past summer on a billboard campaign that was aimed at taking customers away from Atlantic City casinos. Mohegan Sun, however, has not seen the fruits of their labor.

Fourth quarter revenue figures for Mohegan Sun was down by twenty-four percent over the same period the previous year. With the economy still hurting many people, casino gambling has been down across the board in the US.

Mohegan Sun had earnings of $66.4 million for the fourth quarter. That was down from the $87.1 million from the same period in 2008. Total revenue dropped to $364.9, representing a twelve percent decrease.

"Even though these Connecticut and Pennsylvania casinos have been targeting Atlantic City casinos, the increase in competition in the Northeast is also hurting them," said Gaming Analyst Brad Dawkins, "With the economy picking up, however, revenue should start to level off in the coming months."

The Atlantic City casinos have had it far worse than any of the Mohegan Sun casinos. The fall was much more steep for AC casinos because they were the top grossing casino market in the East. Their double digit revenue decreases have reached never before seen proportions this past year.

November 20, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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