Slot Machines Not Making What they Used To

Both the Foxwoods Casino and the Mohegan Sun have announced that they have seen a much lower revenue stream than in previous months from their slot machines. The casinos say that the slot machines used to bring in substantially more money than they do now, and they are hurting as a result of it. They say that their slot machine patrons are just not spending what they used to, and therefore they are losing money each month.

Their December slot machine returns were the lowest they have been in some time, and the Mashantucket Pequot Gaming Enterprise says that their numbers are the lowest they have been since December 1998. They said that their slot machine revenue is down so that they are now below the $50 million mark. They say that they have only brought in $44.9 million for the month from their slot machines, which is a 19.3% decrease over last year.

The Mohegan Tribal Gaming Authority reported a win of $63.1 million which is still a decline, but not quite as drastic as it is for Foxwoods. They saw a 4.3% decline over same time same month as last year. They do not expect these to be their best numbers as November through January are usually the lowest totals for the casino from their slot machines. However, these numbers are their lowest since January 2005.

With both casinos forwarding on 25% of their slot machine wins to the state, the state is also feeling the loss. Mohegan Sun gave them almost $15.8 million and Foxwoods gave them a little more than $1.2 million. This is substantially below what the state usually expects to get from the slot machines, and they have to adjust their budgets accordingly.

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