Casino slot-machine revenues took hit in August
Slot-machine revenues at the region’s two casinos tumbled last month compared to August 2014, largely because of the way Labor Day fell.
Foxwoods Resort Casino reported that it “won,” or kept, $42.5 million in slots wagers last month, a 9.5 percent decline over the amount it kept last August. Mohegan Sun’s win of $52 million last month was down 7.5 percent.
While most of the Labor Day Weekend occurred in August last year — the holiday itself was on Monday, Sept. 1 — the entire weekend took place in September this year when Labor Day fell on Sept. 7.
Ray Pineault, Mohegan Sun’s president and general manager, said the calendar accounted for most of the year-over-year decline in Mohegan Sun’s August slots revenue.
“You had one less Friday this August, and you had the benefit of most of the Labor Day Weekend in August last year,” he said. “Our win was down about $4 million, more than half of that related to the calendar.”
Such anomalies, he said, tend to even out over 90 days.
Asked if Mohegan Sun’s September numbers would reflect the benefit of having the entire Labor Day Weekend fall in the month, Pineault said he was “content” with the way the month was shaping up.
The casinos’ slots revenues had been stabilizing in recent months.
Pineault said Mohegan Sun officials expect the casino’s gaming revenue for the fiscal year ending Sept. 30 to show a significant increase over the previous year.
"Essentially, slots are flat for the year (compared to the previous fiscal year) while table games are up," he said.
Over the last year, both casinos have reduced the number of slots they operate. Foxwoods’ inventory of machines has shrunk from 5,773 in August 2014 to 4,705 last month, a reduction of 18.5 percent. Mohegan Sun had 5,125 machines last month, 5.5 percent fewer than the 5,425 it operated in August 2014.
The casinos have continued to upgrade their nongaming offerings. Pasta Vita, a gourmet-to-go food retailer, opened in Mohegan Sun in mid-August, and Carlo’s Bakery debuted there this past weekend. At Foxwoods, Mario Barth’s King Ink tattoo studio opened earlier this month.
Mohegan Sun forwarded $13 million of its slots win to the state, while Foxwoods anted up $11.2 million.
Twitter: @bjhallenbeck
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