Connecticut’s two big Indian casinos are beginning to see a rebound in their slots revenues.
The last year has proved that gambling, once thought recession proof, can indeed be severely affected by an economic downturn. Both Mohegan Sun and Foxwoods Resort Casino have seen a prolonged downturn in revenues from slots, and their financial woes have led to layoffs, wage freezes and a halt in construction projects.
But there may now be signs of an uptick. Foxwoods says its March slot win was nearly $62m, a slightly more than 1% increase over the same month last year – it’s also a 6% increase over February’s total, and marks the third straight month of better numbers.
At Mohegan Sun, the slot take was $66m, which is a 15% decline from the same month last year. But it does mark a 4% increase from February, and a second consecutive month of improvement. The state gets 25% of the slot take from each of the casinos – that means in March, the general fund receives nearly $32m.