Steep decline in May slot revenues
Both Mohegan Sun and Foxwoods Resort Casino reported Monday that May was a down month for slot-machine play, but declines did not reach the double digits recorded in the previous two months.
The Mohegan Sun casino said it "won," or kept, $51.7 million in slot-machine bets last month compared with $55 million in May of last year. That's a decline of about 6 percent.
Foxwoods, whose numbers could be located only on a state website, reported that its win was $43.7 million last month, compared with $48.2 million during May of last year. The casino's slots revenue translated to a decline of about 9.3 percent.
"The economic environment is still a bit challenging," said Bobby Soper, Mohegan Sun's chief executive officer, in a phone interview. "We continue to focus on profitability and making sure we have the right marketing spin."
Mohegan Sun's results came despite musical acts last month that included Bruce Springsteen and Lady Gaga - appearances that Soper said helped enhance casino revenues. With more A-list acts this summer including Justin Timberlake and Katie Perry, Soper said he expected the summer months to be particularly active.
Mohegan Sun's monthly contribution to the state - 25 percent of the slot win - was $12.9 million last month compared with $13.7 million for the same period a year ago.
The casino held onto 8.12 percent of the total amount wagered during May, compared with 8.39 percent a year ago, according to the monthly report.
At Foxwoods, the hold in May was 8.07 percent compared with 8.64 percent for the same month last year. Its contribution to state coffers was $10.9 million last month compared with a bit over $12 million the year before.
The Foxwoods began weekday closures of slots in the Rainmaker Casino that went into effect June 9.
May 2014 slot machine revenues
Total win (in millions): $51.7
Yearly change: -6.0%
State contribution (in millions): $12.9
* Hold: 8.12%
Operating units: 5,447
Total win (in millions): $43.7
Yearly change: -9.3%
State contribution (in millions): $10.9
* Hold: 8.07%
Operating units: 5,817
*Hold is the average percent of total wagers kept by the casino.
MOST VIEWED MEDIA
MOST DISCUSSED STORIES