Slot Decline Slows At Mohegan Sun
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By ZEKE MILLER
The Hartford Courant
August 6, 2009
Slot machine revenue declined at Mohegan Sun in the past quarter over the same period last year, but at a slower pace than in the recent quarters, and table-game revenue increased — positive signs for an industry hoping to emerge from its downturn.
Total gaming revenue, including slots and tables, fell by 3.1 percent to $273 million in the April-June quarter. In the January-March quarter of this year, gaming revenue dropped a steep 27.5 percent from the previous year.
Slot machine revenue fell by nearly 8 percent in the April-June quarter, but it was offset by a larger hold percentage in table games. Revenue on table games, such as blackjack and poker, rose 5.7 percent in the quarter.
"Much of our improved performance is attributable to a more normalized table games hold as compared to the third quarter of last year, as well as continued cost savings achieved through our cost containment program implemented this past winter," said Mitchell G. Etess, president and CEO of the Mohegan Tribal Gaming Authority.
Overall, the Mohegan Tribal Gaming Authority, which also owns the Mohegan Sun at Pocono Downs in Pennsylvania, showed net income of $23.5 million, more than four times the April-June quarter of last year, with growth at the Pennsylvania casino buoying the company's bottom line. Copyright © 2009, The Hartford Courant