SLOT REVENUE FOR JANUARY 2010

Slots revenue down at Foxwoods, Mohegan Sun in January

For The Norwich Bulletin
Posted Feb 16, 2010 @ 11:23 PM

Both Mohegan Sun and Foxwoods began the calendar year with a downturn in January.The $61.8 million in slot revenues at Mohegan Sun fell a little more than 1 percent compared to the same time last year, while the $51.6 million generated at Foxwoods Resort Casino and MGM Grand at Foxwoods represented a decline of 2.5 percent for the same period, according to figures released Tuesday by both casinos.Total slot handle — the amount deposited into the machines — rose 6.8 percent year over year at Mohegan Sun, but dropped 3.3 percent at Foxwoods.With 6,582 games, Mohegan Sun brought in $9,384 per slot machine and $303 per game per day, up compared to January 2009, when the casino had almost 200 more machines on the floor. Foxwoods won $7,014 per game, or $226 a day based on 7,352 slots, also higher than the revenue per machine last January.The calendar worked out favorably with five Saturdays and five Sundays on the docket, and the weather was better. Still, the numbers were a positive sign, said Mitchell Etess, CEO of Mohegan Sun.“Obviously we are happy with the numbers relative to the previous several months. It’s a step in the right direction,” Etess said.A 6.8 percent gain in the handle also brought smiles. While some of that was driven by free slot play promotions, it also meant more people spending more time at the machines, he said.Mashantucket Pequot Gaming Enterprises president Michael Speller also saw positive signs at Foxwoods.“We continue to see sold-out shows and concerts and near-capacity occupancy rates at our hotels during a time that’s proving more difficult for many other properties.”The Mohegan Tribal Gaming Authority reported a $15.4 million payment to the state, equal to 25 percent of the slot win. Mashantucket Pequot Tribal Nation, Foxwoods’ owner, paid $13.1 million to Connecticut.It’s too early to predict February, but this past holiday weekend proved a boon, Etess said. “People take advantage of the mid-winter recess.”

Copyright 2010 Norwich Bulletin.