According to The Day newspaper…
The slot report from the Mohegan Sun reportedly showed its win after payouts was $55 million. That is 1.5 percent less than the $55.9 million the Uncasville integrated casino resort won in July 2017.
Foxwoods sees greater decline:
Faring a steeper decline, Foxwoods Resorts Casino reported a $42.8 million win for July 2018, which was a 4.9 percent dip from its $45 million win from the same time last year.
The reported handle for Mohegan Sun was $664.1 million, a less than half percent decline from the same time last year…
Meanwhile, Foxwoods reported that the total amount bet on slots during the period (handle) was $534.4 million, a significant 6.7 percent year-over-year decrease.
The newspaper went on to communicate that for reporting purposes, last year July was a more favorable month, as there were five Saturdays and the same number of Sundays. However, this year in July, there were five Sundays but one less Saturday.
Operating Class III gaming under tribal/state compacts, both Foxwoods and Mohegan Sun contribute 25 percent of their gross slot revenue to Connecticut’s general fund. For the month of July, $13.8 million was contributed by Mohegan Sun while Foxwoods contribution was reportedly $10.9 million.
The two Connecticut casinos total combined payment to the state for the 2018 fiscal year ending June 30, was $272.2 million.
In fiscal year 2017, the total paid to the state was $270.7 million. It’s been more than 10 years since the combined payments peaked when in fiscal 2007 they reportedly totaled $430.5 million.
MGM Springfield impact:
Slot revenues for the month of August will only partially reflect the impact of MGM Springfield. The $960 million MGM Resorts International property is slated to open on August 24. It will feature a 125,000 square foot casino complete with approximately 3,000 slots and 100 gaming tables.
Liquor law exemption:
In related news, both casinos have begun lobbying local lawmakers to amend Connecticut’s liquor laws so that they can extend cocktail service in the evenings. Both venues are currently prohibited from serving alcoholic beverages past 1am on weekdays and 2am on Saturdays and Sundays.
The concern of both federally-recognized tribes is that they will lose business to the MGM Springfield, where upon opening next Friday will offer active gamblers the ability to get drinks until 4am.
It’s not the first time Foxwoods attempted to push a casino exemption to the liquor laws. In 2014, then CEO Felix Rappaport said that cutting off cocktail service shortly after midnight puts them at a disadvantage in the region, according to the Associated Press reported by Fox Business.
In 2008, the idea of casino exemptions was floated but did not fare well with Connecticut lawmakers, in part due to concerns over drunken driving.