Foxwoods Resort Casino on Monday said its slot revenues in March fell 8 percent, matching the percentage decrease it recorded in the month prior.
Foxwoods, operated by the Mashantucket Pequot Tribal Nation, posted slot revenue of $40.1 million last month, down from $43.6 million recorded in March 2018.
The amount slot bettors wagered in March, known as the “handle,” also declined 5.2 percent to $489.4 million vs. $516.4 million wagered in the year-ago period.
The casino, which provides 25 percent of its slot revenues to the state, said it contributed $10 million to Connecticut in March.
Foxwoods has now recorded lower slot revenues in nine consecutive months. It last recorded a slot revenue increase in June.
Mohegan’s slot revenues have also declined monthly since June amid increased competition from eight-month-old MGM Springfield and other new gaming operations in the region.
Interim Foxwoods CEO Rodney Butler earlier this year told Hartford Business Journal that MGM’s impact on its gaming and entertainment revenues has been smaller than projected, as he expects the region’s gaming market to reach its equilibrium sometime this summer.
Meantime, Foxwoods and Mohegan are teaming to build the nation’s first jointly operated tribal casino in East Windsor. The $300 million development recently received federal approval after significant delays.
