Conn. slot revenue falls

Revenue from slot machines dropped for the 19th consecutive month at Connecticut’s two tribal-owned casinos, the Associated Press reported. More

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Conn. slot revenue falls

BLOOMBERG FILE PHOTO/MIKE MERGEN
SLOT MACHINE REVENUE declined at Connecticut's two casinos for the 19th consecutive month in July.
Posted 8/15/13

HARTFORD, Conn. – Revenue from slot machines dropped for the 19th consecutive month at Connecticut’s two tribal-owned casinos, the Associated Press reported.

The continued drop in slots revenue came as both casinos are seeking gambling licenses in Massachusetts.

Foxwoods Resort Casino took in $48.7 million in July, down 4.6 percent from July 2012, according to the AP report published by the Boston Herald. Mohegan Sun’s revenue dropped 8.8 percent year over year to $54.6 million.

A Wednesday report by Moody’s Investors Service said the best home for the casino operators may be in Massachusetts, where both have applied for gambling licenses.

“If they are awarded licenses to operate there, their prospects will brighten considerably, but if not, both will see continuing deterioration in gaming revenue amid competition from nearby states,” report author Peter Trombetta wrote, according to the AP.

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