Slot Machine Revenues Up and Down

The Mohegan Sun experienced another loss in their slot machine revenue last month, although it was less than the decrease in the previous month. The casino was down $6 million in slot machine revenue, bringing in only $77.5 million in the month of August.

Casino officials are not worried however, especially since the month before they had lost 14% off of their slot machine revenues. Mitchell Etess, President of the casino says that it was better than the previous month so they are obviously expecting this month to be even less. They are also still bringing in more than Foxwoods so that has to feel pretty good.

Foxwoods Resort Casino saw a slight increase in their slot machine revenues, gaining $842,000 to end up at $72.8 million. In July the casino had seen a 3% decrease in slot machine revenues, so they are happy with their figures.

Each of the casinos have seen their slot machine revenues go down by sometimes significant amounts over the past few months, so any increase, or less of a decrease is a positive step in their industry. A challenging financial market coupled with increased competition in the northeast has made things tougher for the casinos.

Each of the tribes has to contribute 25%of their slot machine revenues to the state, so the state wants to see them doing well. In August, Mohegan Sun paid $19.4 million while Foxwoods paid $18.2 million.

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