Casino Slot Revenues Hammered by Weather
Slot machine revenues at Connecticut's two Indian casinos fell in January, according to monthly results reported to the state. At Eastern Connecticut’s two casinos, slot machine revenue fell last month as record snowfall depressed business. Other local enterprises were also hurt by the storms.
Foxwoods Resort Casino and MGM Grand at Foxwoods reported slot machine revenue of $48.5 million for January, down 5.9 percent over the total for the same month in 2010. In the Uncasville section of Montville, slot revenues at Mohegan Sun were down 12 percent in January compared to January 2010. Slot revenues at Foxwoods in Mashantucket were down 6 percent. for the past five Januaries, both casinos have seen decreases in year-over-year revenues.
The property had increased its year-over-year slot revenue for four of the previous six months; therefore, the drop was particularly notable. When the casino had 2,000 fewer slot machines, its slot win of $48.5 million was the lowest for a January since 1997.
Foxwoods was convinced by the positive feedback from slot machine customers, which resulted in extending a ticket printing agreement with Hamden-based TransAct Technologies Inc. To all of the 1,100 slot machines at MGM Grand at Foxwoods, TransAct’s Epicentral system is being expanded from about 300 now.
Going from $5.2 million in December to $4.8 million in January, Foxwoods decreased its free slot play, usually a sign that business is stabilizing. Offering $5.7 million in free play for January compared with $3.4 million in December, Mohegan Sun went the other direction. Mohegan Sun gave away more slots play than Foxwoods and it was the first month in nearly a year.
During the month, Foxwoods operated 6,571 machines compared to Mohegan Sun's 6,372. For Mohegan Sun, the average was $276.11, while Foxwoods' machines averaged a daily win of $238.31.