State Feeling Recession

There had been talk that no matter what went on in the slot machine industry, people would gamble. It was merely that simple. However, it seems that this is not necessarily true.

Ever since the Mashantucket Pequot Indians opened a slot machine casino more than ten years ago, people have been going to Connecticut to gamble. The Mohegan Tribe was quick to follow, and the state saw an economic boom in slot machines and the amount of revenue that they could produce.

However, now that the nation is struggling with their finances and more and more people are losing their homes every day – there isn’t so much money left over. And that money that is left over is certainly not going to go into slot machines.

The casinos have always taken a kind of invincible approach to the economic crisis – after all people will still gamble no matter what. However, they were not counting on the number of people who would stop gambling. With their numbers consistently dropping, it would seem that they are not “recession proof” after all.

Foxwoods has already laid of more than 700 of their workers – which is about 6% of their total workforce. The Mohegan Sun has stopped construction on their new expansion, and eliminated roughly 450 jobs. It is assuredly only going to get worse from here.

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