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After 20 Straight Months Of Slot Revenue Decreases, Mohegan Sun Sees Tiny Uptick

Revenue Was $56.35 Million For August, Up From Last Year

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Since December 2011, slot revenues at Connecticut’s Mohegan Sun casino had fallen when compared to the same month of the previous year. However, last month saw slot revenues finally increase, according to the reporting from The Courant.

It was a tiny 0.03-percent uptick, but it still was a positive development for the property. It reported slot revenue of $56.35 million for August, up from $56.34 million in August 2012.

“It’s hard to attribute any specific factor,” Robert Soper, CEO and President of Mohegan Sun Connecticut told The Courant. “Certainly we had a strong entertainment schedule in August.”

The amount wagered at Mohegan Sun’s slots (otherwise known as the handle) was $700.4 million for in August 2013, up 1.9 percent compared to August 2012.

Another Connecticut casino, Foxwoods, is still stuck in its own extended slot-revenue slump, though that property saw its smallest year-over-year decline in a year, according to The Day.

The new slot revenue figures had Mohegan Sun increasing its share of the Connecticut slot machines market to 53.7 percent (up from 52.8 percent a year earlier.) Foxwoods’ piece of the pie fell to 46.3 percent, down from 47.2 percent. Both are tribal casinos.

Connecticut is the middle of a region full of massive gambling expansion initiatives. New York, New Jersey, Pennsylvania, New Hampshire, Delaware, Maryland and Massachusetts all have gambling-related proposals in the works or already hashed out.

Many firms, including Mohegan Sun, are looking to build elsewhere.

 
 
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