Gambling in the USA

Revenue dip continues for Foxwoods and Mohegan in Connecticut

Published

7 years ago

February 20, 2019

Niji Narayan

Revenue dip continues for Foxwoods and Mohegan in Connecticut

Photo Source: wbur.org

Reading Time: < 1 minute

The slot machine revenues of Foxwoods Resort and Mohegan Sun in Connecticut continue its downward spiral even after six months of MGM Springfield starting a casino in neighboring Massachusetts.

Foxwoods posted a revenue of $31 million in slots in January, a decrease of 8.5% year on year. In fact, this is the lowest monthly revenue in about 20 years.

Mohegan Sun recorded even poorer results. It posted revenue of $40.7 million in January, representing a 9.4% slide year on year. This is its lowest monthly slot earnings since 2001.

Both the companies remained upbeat though and claimed that the slots revenue dips are not as severe as they had forecast. MGM Springfield is meeting its revenue forecast either. It reported GGR of $19.7 million in January, much lower than the anticipated $35 million for the month.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.