Connecticut casinos post March slot revenue drop

Connecticut casinos post March slot revenue drop

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Connecticut State News Connecticut State News

HARTFORD, Conn. (AP) - Connecticut's Indian-run casinos say slot machine revenue fell sharply in March, with Foxwoods Resort Casino citing an "ultra-competitive" market.

Foxwoods reported Tuesday that the share of wagers, known as revenue, was $44.6 million, down 10 percent from March 2013. Total slot machine wagering at the Mashantucket Pequot tribal casino was $566 million, down 5 percent.

The Mohegan Sun reported revenue of $51.9 million in March, down 12 percent. Total wagering was $625.6 million, an 11 percent drop from more than $700 million.

Scott Butera, Foxwoods' chief executive, said the casino is an "ultra-competitive marketplace."

Robert J. Soper, chief executive of Mohegan Sun, said the unusually cold March hurt business, but finances are stabilizing.

Slot machine revenue has fallen as customers reduced spending in the recession and weak recovery and more casinos open in the Northeast.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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