A disturbing trend in declining revenues has been noted by Connectucit gaming officials following the release on Friday of the revenue numbers for the month of January.
The report said revenue at Foxwoods Resort Casino, the state’s first tribal casino operated by the Mashantucket Pequot Tribe, fell to $37.1 million, down from last year’s $40.7 million.
At Mohegan Sun, revenue was reported as $43.2 million, again less than the $47.1 million registered a year earlier.
“While weather does continue to be a factor,” said Scott Butera, Foxwoods’ president and CEO, “we are starting to see consistency in our numbers. We remain committed to our current plan and more importantly to our guests and their experiences in the changing marketplace.”
Except for a slight improvement reported in November, Foxwoods has shown consistent declines, stretching back more than two years.
Through an agreement reached a decade ago, the casinos pay 25 percent of their slot revenue to the state. Officials say their share of slots revenue has fallen from $430 million received in 2007 to the $296 million it currently receives.
Increased competition from the surrounding area has been blamed for the declining revenues.
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