In the middle of this past May, Foxwoods Casino opened their $700 million dollar project, MGM Grand at Foxwoods, with a huge party attended by a number of celebrities. Two weeks later the Mashantucket Pequots who run the casino laid off 170 employees. One month after that, another 100 employees were laid off, mostly in management. Now, the tribe has announced that 700 more job cuts will be made over the next few weeks.
“As is happening to so many organizations, the economic issues facing our nation and regional consumer economy have negatively impacted our revenue growth,” said Michael Thomas, chairman of the Mashantucket Pequot Tribal. “Although it has taken a few months, the recession’s impact can now be clearly seen in our industry.”
Foxwoods Resort Casino in Connecticut is the largest tribal casino in North America at 340,000 square feet and $27 billion dollars in gross revenue last year.