Connecticut’s two Native American casinos on Wednesday posted double-digit percent reductions in their slot revenue from July, no longer aided by the extra weekend day that bolstered revenues last year.
Mohegan Sun in the Uncasville section of Montville reported slot revenues of $60 million in July, down 10 percent from the $66.9 million in revenues from July 2011. The casino’s handle – or the total amount of bets placed – on slots was $738 million, down 13 percent from the $849.2 million handle in July 2011.
Foxwoods Resort Casino on the Mashantucket reservation in Ledyard reported slot revenues of $51 million in July, down 16 percent from the $60.5 million in July 2011. Foxwoods’ handle was $589.4 million, down 18 percent from $716.4 million in July 2011.
July 2011 had five Saturdays and five Sundays, adding extra days of revenue during the casino’s busiest time of the week. This year, July had four Saturdays and five Sundays, reducing the extra revenue for the casino.
Slots are only part of the revenues Foxwoods and Mohegan earn, as each resort also has table games, hotels, restaurants, shopping and other entertainment, but slots is the only revenue they must report on a monthly basis. Mohegan must disclose all its revenues, expenses and earnings on a quarterly basis because the casino operates with public money. Foxwoods doesn’t have the same requirements and doesn’t report those other finances.
As part of their agreements to operate within Connecticut, the casinos must contribute 25 percent of their slot revenue to the state general fund. In July, Mohegan contributed $15 million and Foxwoods $12.8 million.
