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October 16, 2020

Casino profits swoon in September

Photo | Mohegan Sun Mohegan Sun's Sky and Earth Tower at its Connecticut casino.
By Liese Klein

Mohegan Sun and Foxwoods slot revenue slid in September as people returned to work and school and the COVID-19 pandemic continued to impact the casino industry.  

For September, Mohegan Sun, operated by Mohegan Gaming & Entertainment (MGE), said it recorded slot revenues of $40.3 million, down 9.6% from $44.6 million in September 2019 and down 11.6% from August.

Foxwoods Resort Casino reported slot revenue of $27.6 million for the month of September, down 23% from $35.9 million in September 2019 and down 6.8% from August.

The amount slot bettors wagered in September at Mohegan Sun, known as the “handle,” was $462 million, down 11.5% from $522.2 million in the same month a year ago. 

MGE, which is required by a state gaming compact to pay 25% of its slot revenues to Connecticut’s General Fund, said it contributed a bit more than $10 million to the state in September. Foxwoods contributed $6.9 million in the same period. 

Foxwoods reported in August that its revenues declined by more than 71% in the third quarter in part due to the fact that its facility was shut down for more than two months to limit the spread of COVID-19. Rodney Butler, the chairman of the Mashantucket Pequots, urged Connecticut lawmakers at the time to legalize sports betting and modernize online gaming to boost the ailing industry.

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