Casinos report more modest decreases in August slots revenue
Declines in the casinos’ slot-machine revenues returned to single digits in August, numbers released Monday show.
Mohegan Sun kept $49.9 million in slots revenue after paying prizes, down 6.4 percent from the $53.3 million it kept the same month a year ago. Foxwoods’ $39.5 million in slots revenue reflected a 4.8 percent decrease over the $41.4 million it kept in August 2018.
Mohegan Sun and Foxwoods had reported year-over-year declines of 15 and 11 percent, respectively, for July.
The casinos, facing new competition from resort casinos in Springfield and Everett, Mass., have reported declines in slots revenue in 14 straight months.
Mohegan Sun paid $12.5 million of its August slots “win” to the state. Foxwoods paid $10.1 million.
MGM Springfield kept $15.6 million in slots revenue in August, its 12th full month of operation, the Massachusetts Gaming Commission reported. The casino, located just north of the Connecticut border, also kept $5.3 million in table-games revenue, bringing its total gaming revenue for the month to nearly $21 million.
Since opening, MGM Springfield’s gaming revenues have fallen far short of projections.
Other figures released Monday show Encore Boston Harbor, Wynn Resorts’ $2.6 billion casino in Everett, kept $20.2 million in slots revenue, less than it kept the previous month. In August, the casino “held” only 5.6 percent of the $359.2 million in wagers pumped into its machines, meaning it returned 94.4 percent in prizes.
In recent months, Foxwoods, Mohegan Sun and MGM Springfield have held between 8 and 9 percent of the money wagered at their slots, returning between 91 and 92 percent.
Encore kept $32.3 million in table-games revenue in August, up from $27.4 million in July. The August table-games revenue is more than six times the amount MGM Springfield kept. The Connecticut casinos don't report their table-games revenue on a monthly basis.