Mohegan Sun slot-machine winnings down 6.7 percent in March
Mohegan — Mohegan Sun reported Friday that its slot-machine “win” was down 6.7 percent in March, the seventh full month in which southeastern Connecticut’s casinos have had to contend with MGM Springfield, the nearly $1 billion facility that opened last summer in western Massachusetts.
Another Bay State competitor, the $2.6 billion Encore Boston Harbor, is scheduled to open in Everett in June.
“We’re not at all disappointed with our numbers,” said Ray Pineault, Mohegan Sun’s president and general manager. “We said all along that we expected some impact (from MGM Springfield). Our loyal guests are still coming ... you’re going to lose some ‘convenience’ players” who favor whichever casino is closest to them.
While Mohegan Sun and Foxwoods Resort Casino have reported year-over-year declines in slots revenue in every month since MGM Springfield opened, the losses have been less than casino officials expected.
Foxwoods will release its March numbers Monday.
Pineault said he doesn’t see the Connecticut casinos’ slots revenue stabilizing for at least another year, given the Boston-area casino’s impending debut.
In addition, the Mohegan and Mashantucket Pequot tribes, respective owners of Mohegan Sun and Foxwoods, are believed to be close to announcing a timetable for their joint development of a third Connecticut casino in East Windsor. The federal government recently issued a required approval for the project, which is intended to lessen MGM Springfield’s impact on the tribes’ existing casinos.
Mohegan Sun and Foxwoods also expect to introduce sports betting if and when state lawmakers pass legislation legalizing it. Tribal officials have met with representatives of the governor’s office in an effort to work out an arrangement. The tribes believe their gaming agreements with the state grant them the exclusive right to provide sports betting in Connecticut.
In March, Mohegan Sun kept $51.1 million in slots revenue after paying out prizes, down from the $54.8 million it kept the same month in 2018. The casino’s “handle” — the total wagers pumped into its machines — amounted to $628.2 million, an 8 percent year-over-year decline.
Mohegan Sun has posted year-over-year decreases in slots revenue in each of the last nine months, dating back to July.
Since MGM Springfield’s opening, Mohegan Sun has removed some slots machines from its gaming floor. It operated fewer than 4,500 machines in March, about 300 fewer than in the same month the previous year.
Bad weather and economic conditions also could have been partly responsible for Mohegan Sun’s most recent slots revenue decline, said Pineault, who pointed to the possible effect of people receiving, or anticipating, smaller-than-expected income tax refunds.
The Connecticut casinos divert 25 percent of their slots winnings to the state’s General Fund. In March, Mohegan Sun’s contribution was $12.9 million.
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