Mohegan, Foxwoods’ slot revenues rise in January

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By Joe Cooper

Connecticut’s two tribal casinos posted higher slot revenues in January after recording steep declines a month earlier.

The operator of Mohegan Sun, Mohegan Gaming & Entertainment (MGE), said the Uncasville casino reported slot revenue of $43.8 million in January, up 7.6% compared to $40.7 million in the year-ago period. The increase follows Mohegan’s 11.7% slot revenue decline in December.

The amount slot bettors wagered at Mohegan last month, known as the “handle,” was $529 million, also up 5.5% vs. $501.5 million in the year-ago period.

The January results come more than a week after MGE said its first-quarter profits soared 25% despite recording a year-over-year loss at its flagship venue, Mohegan Sun.

MGE, which is required by a gaming compact to pay 25% of its slot revenues to the state, said it contributed more than $10.9 million to Connecticut’s general fund last month.

Foxwoods Resort Casino, operated by the Mashantucket Pequot Tribal Nation, also said its slot revenue last month rose 4.6% to $32.5 million. That’s up from a 9.2% decline in December.

Meantime, Foxwoods said its handle in January was $401.6 million, up 6% from $378.8 million wagered a year ago.

Foxwoods said it contributed $8.3 million to the state in January.

Amid increased gambling competition across the region, the two tribes are still pursuing to jointly build a satellite casino in East Windsor known as Tribal Winds Casino.

But tribal leaders recently dampened expectations, stating the project is still years from being constructed and reduced its expected cost from $300 million to “between $200 million and $300 million.”