Casinos’ revenues were down slightly in October-December quarter

February 13, 2019

Foxwoods Resorts Casino and Mohegan Sun posted modest declines in revenue during the quarter that ended Dec. 31, the first full three-month period in which MGM Springfield was open.

In an online filing last Friday, Foxwoods reported that its net revenues in the quarter totaled 252.7 million, a 3.9 percent decline over the previous year.

MGE, which also operates the Mohegan Tribe’s other gaming enterprises, including Mohegan Sun Pocono in Wilkes-Barre, Pa., reported overall revenues of 1 billion resort casino that opened in late August, has been less than anticipated.

Foxwoods reported that its payroll costs in the quarter, excluding severance payments, were 5.5 million on capital improvements in the quarter, mostly on new slot machines, information technology upgrades and a new attraction: the Topgolf Swing Suite, an interactive simulator in which players hit golf shots that are tracked for accuracy and distance.

Foxwoods provided $8.8 million for Mashantucket government, including the tribe’s nongaming enterprises and capital expenditures.

In its quarterly report, MGE noted that it recently had announced an agreement with the Kindred Group, an online gaming and sports betting operator, to provide on-site and online sports betting at Mohegan Sun Pocono. Another MGE-managed property, Resorts Casino Hotel in Atlantic City, N.J., has introduced a DraftKings sports book.

“These experiences leave us well positioned to react quickly to the prospect for sports wagering legislation in Connecticut ... to the extent that materializes in this current legislative session,” Kontomerkos said.


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