THE MOHEGAN SUN AND FOXWOODS CASINOS ARE WAITING TO SEE WHAT HAPPENS THIS HOLIDAY SEASON. IN OCTOBER, THE MOHEGAN SUN WAS DOWN 9.1% ON SLOT REVENUE COMPARED TO THE YEAR BEFORE. FOXWOODS RESORT CASINO WAS DOWN 7.4% ON SLOTS FROM THE YEAR BEFORE. THE REALITY IS NEITHER OF THE TWO CASINOS' MANAGEMENT KNOW WHAT TO EXPECT.
MITCHELL ETESS, PRESIDENT, MOHEGAN SUN SAID, " WE, JUST LIKE EVERY RETAILER, ARE AWAITING THIS HOLIDAY SEASON WITH BATED BREATH. WE'RE EAGER TO SEE WHAT KIND OF CROWDS COME OUT."
MOHEGAN SUN CASINO IS RUNNING A SEASONAL CAMPAIGN CALLED,"WORLD OF HOLIDAY MARVELS." NEXT WEDNESDAY, WE ARE TOLD THERE WILL BE "WILD WINTER WEDNESDAY" ON THE ROOFTOP OF THE THAMES GARAGE. THERE WILL BE FIREWORKS, A TOY DRIVE, TREE LIGHTING, MUSIC AND TREATS.
FOXWOODS IS TRYING TO TARGET YOUNGER AND MORE UPSCALE CUSTOMERS. FOXWOODS WHICH HAS MOSTLY 35 TO 65 OLD CUSTOMERS MONDAY THROUGH THURSDAY AND A YOUNGER CROWD ON FRIDAY AND SATURDAY IS TRYING TO FIND WAYS TO BRING MORE ENERGY AND EXCITEMENT TO FOXWOODS (INCREASE BUSINESS). FOXWOODS IS OFFERING A $99.00 HOTEL ROOM SPECIAL.
IN AN EFFORT TO DRAW LARGER CROWDS, BOTH CASINOS, THE MOHEGAN SUN AND FOXWOODS RESORT CASINO, ARE BRINGING IN SUPER STARS TO THEIR VENUSES.
MITCHELL ETESS SAID, "WHAT WE HAVE SEEN IS PEOPLE ARE COMING, BUT THEY APPEAR TO BE SPENDING LESS AND BEING MORE SELECTIVE ABOUT WHAT THEY SPEND ON. THERE'S THIS 'STAYCATION' KIND OF THING GOING ON, WHERE PEOPLE MAY BE STAYING HOME AS OPPOSED TO TRAVELING. THAT COULD BE GOOD FOR US, BECAUSE IF ALL THE PEOPLE AROUND HERE STAY HOME, WE'RE HERE."
HOPEFULLY, THE MOHEGAN SUN AND FOXWOODS RESORT CASINO CAN TURN IT AROUND. THE REALITY IS THE WUSKUSO COMPARING WHAT THE MOHEGAN SUN IS DOING TO OTHER CASINOS, STILL DOES NOT CHANGE THE FACT THAT THIS IS A VERY TROUBLESOME SITUATION FOR US (MOHEGAN TRIBAL MEMBERS). . IT DOES NOT MATTER WHAT THE OTHER CASINOS AND GAMING ENTERPRISES ARE DOING, WHAT MATTERS IS WHAT THE MOHEGAN SUN IS DOING. LOSING 9.1% OF YOUR SLOT BUSINESS FROM THE YEAR BEFORE IS CLOSING IN ON DOOMS DAY.
HOW LONG CAN THE CASINO CONTINUE ON THIS COURSE? HOW LONG BEFORE DISASTER? HOW IS THIS GOING TO EFFECT THE $330 MILLION THE CASINO HAS TO PAY ON BONDS IN 2009? SHOULD WE BE BUILDING A GOVERNMENT COMMUNITY CENTER IN THIS ECONOMIC ENVIRONMENT? HOW DOES THIS EFFECT OUR CREDIT RATING WHICH WAS LOWERED BY MOODY'S JUST THE OTHER DAY? ARE CUTS COMING SOON? HOW LONG CAN THE CASINO WEATHER THIS STORM? WHAT DO YOU THINK?
EDITORIAL FOOTNOTE: MORE SMOKE AND MIRRORS, IT DOES NOT MATTER WHAT OTHER CASINOS ARE DOING, IT ONLY MATTERS TO MOHEGANS WHAT IS HAPPENING TO THE MOHEGAN SUN AND THE MOHEGAN SUN AT POCONO DOWNS. .
EVEN THOUGH BLACK FRIDAY SEEMED TO CREATE A GREAT DEAL OF BUSINESS FOR RETAILERS LOCALLY, IT MAY NOT CONTINUE THROUGH THE HOLIDAY SEASON. THE ECONOMIC FORECAST IS STILL FOR A VERY UNPROFITABLE (SLOW) HOLIDAY SEASON.
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