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    Monday, May 13, 2024

    Casinos' losing streak hits eight months

    Both of southeastern Connecticut’s tribal casinos reported an eighth straight month of year-over-year decreases in their slot-machine revenues Friday.

    For Foxwoods Resort Casino, which kept $34.2 million after paying out prizes in February, the decline was 8 percent, while Mohegan Sun, which kept $43.5 million in February, was down 7.2 percent over the same month the previous year.

    In Massachusetts, gaming regulators reported that MGM Springfield, the Connecticut casinos’ main competition, kept $14.5 million in slots revenue last month, a significant improvement over January, when it kept $13.1 million. The casino, which opened in late August, hasn’t been operating long enough to afford year-over-year performance comparisons.

    Foxwoods’ slots “win” in February was up over January, when it kept $31 million, its lowest monthly total since February 1994. Mohegan Sun also rebounded last month compared to January, when it posted its lowest slots win in 18 years.

    The Connecticut casinos attributed the dismal January numbers to poor weather and competition from Massachusetts and Rhode Island, where Twin River Casino in Lincoln introduced sports betting late last year.

    Foxwoods transferred $8.5 million of its February slots revenue to the state. Mohegan Sun’s contribution was $11 million.

    — Brian Hallenbeck 

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