CONNECTICUT CASINOS SHOW SMALL GAIN FOR JULY

Casinos’ slots revenue was up in July
By Brian Hallenbeck

Publication: TheDay.com

Connecticut’s tribally owned casinos reported slight increases in their slot-machine “wins” last month, reversing a long-running trend.

Mohegan Sun’s win was up 1.8 percent over July 2009, its first year-over-year gain in more than two years. Foxwoods Resort Casino, including MGM Grand at Foxwoods, reported its win was up 1.3 percent for the month.

Mohegan Sun kept $70.3 million in slot winnings while Foxwoods kept $64.1 million. Mohegan Sun sent more than $18 million of its win to the state Division of Special Revenue; Foxwoods contributed $17. 2 million to state coffers.

Mohegan Sun had last recorded a year-over-year gain in May 2008, and since then had experienced 25 straight months of declines. Foxwoods had 15 straight months of declines since posting increases in February and March 2009.

Atlantic City’s 11 casinos last week reported a 5 percent decline in July slot revenue.

EDITORIAL FOOTNOTE; Both casinos are going in the right direction, upward. However, think about three years of losses. It is a step in the right direction, but the tribes have a long, long way to go. What do you think?