In a reversal of their recent trend, revenues at Connecticut casino Mohegan Sun inched up in February while rival Foxwoods Resort dropped its slot win, both tribal gaming venues said Tuesday.
Mohegan typically outgained Foxwoods overall, but the past seven months have seen Foxwoods generally increasing its year-over-year revenues while Mohegan saw a steady decline.
Through January, Foxwoods increased its slot win in four of the past seven months. Mohegan decreased its year-over-year slot win in six of the past seven months.
February was the first month since July that Mohegan increased its year-over-year revenues, raking in $58.05 million compared to $58.03 million in February 2010, a small increase of .03 percent. It was the casino’s first February-over-February increase since 2006.
On the other side of the chip, Foxwoods dropped its February revenues to $51.1 million from $51.6 million in February 2010. The 1 percent decrease marked the second straight month of declining year-over-year revenues for Foxwoods, after the casino finished 2010 with increases in July, September, October and December. Those increases reversed a decade of declining revenues.
“February’s results were uplifting for the Foxwoods team. Many core customers continued to frequent our world-class facilities despite a continuation of poor weather conditions in the Northeast, as well as record high gas and commodity prices,” said Foxwoods President and CEO Scott Butera in a statement.
As part of their contributions to the Connecticut General Fund, Foxwoods sent a $13.5 million payment in February while Mohegan sent $15.1 million.
