Connecticut casinos post March slot revenue drop

foxwoods

HARTFORD, Conn. (AP) — Connecticut’s Indian-run casinos say slot machine revenue fell sharply in March, with Foxwoods Resort Casino citing an “ultra-competitive” market.

Foxwoods reported Tuesday that the share of wagers, known as revenue, was $44.6 million, down 10 percent from March 2013. Total slot machine wagering at the Mashantucket Pequot tribal casino was $595.2 million, down 5 percent.

The Mohegan Sun reported revenue of $51.9 million in March, down 12 percent. Total wagering was $625.6 million, an 11 percent drop from more than $700 million.

“The numbers are a sign of the times,” said Scott Butera, Foxwoods’ chief executive. “We are in the midst of an ultra-competitive marketplace.”

Slot machine revenue has been falling steadily as customers reduced spending during the recession and weak recovery and more casinos have opened in the Northeast.

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