Connecticut’s two resort casinos reported positive numbers in their overall slot win for the first time in more than a year.
Mohegan Sun casino in Uncasville increased its total slot win for July as $70.3 million to the Connecticut Division of Special Revenue, an increase of 1.8 percent over July 2009.
After a period of steady declines in its total win, this is the first year-over-year increase for Mohegan Sun since May 2008 and the largest increase since August 2007.
Foxwoods casino in Mashantucket reported a total slot win of $64.1 million, a 1.3 percent increase over July 2009. This was the first year-over-year slot increase for Foxwoods since February 2009 and the largest increase since August 2008.
“While we’re pleased with July’s results, it appears that current economic conditions will continue to pose challenges to our business over the coming months,” said William Sherlock, Mashantucket Pequot Gaming Enterprises president, in a statement. “We’ll continue to introduce new experiences, amenities and customer benefits that are sure to resonate with consumers.”
The casinos had an extra Saturday this July compared to 2009 to raise revenues, which could have accounted for some of the increase, said Mitchel Grossinger Etess, CEO of the Mohegan Tribal Gaming Authority.
Although revenues dropped in 2009 and 2010, Mohegan saw a flattening out of the losses, and the uptick in July is part of the market readjusting, Grossinger Etess said. Once the quarter is over, the casino will have a better outlook on its future.
Foxwoods reported a $17.4 million contribution to the Connecticut General Fund for July. Mohegan reported an $18.1 million contribution to the Connecticut General Fund for July. Both are the largest contributions for the casinos since August 2008.
The positive increase come after a steady downward trend in slot win for Foxwoods and Mohegan Sun since the mid-2000s, as both casinos are mired in billion-dollar debts from massive construction projects, and as surrounding Northeast states begin to offer more competition in the gambling industry.
