Monday, June 16, 2008

What can $130,000 buy you these days?


1. Half an average one-family home in New London County.

2. A hand-built Mercedes Benz AMG S63

3. A break in sliding slot revenues....


Norwich Bulletin
Posted Jun 16, 2008 @ 11:37 AM

Mohegan, Conn. —

Mohegan Sun broke eight months of sliding slot revenues in May by doing almost $130,000 more than the $75 million it made in May 2007.

The casino reported this morning it had taken in $75.1 million in slot revenues in May, up 0.001 percent from the same time last year.

Foxwoods Resort Casino, which opened its $700 million MGM Grand at Foxwoods expansion mid-May, had yet not released its numbers by 11:30 a.m.

Slot revenues had been in a free fall since September. In April, Mohegan Sun was off by 5 percent from the same month in 2007 and Foxwoods was off 11 from the same period.

When slot revenues slide, so do the contributions to the state's general fund. An agreement between the tribes and the state sends 25 percent of each month's slot revenues to Connecticut's coffers and Mohegan Sun will give just less than $18.8 million from the business it did in May.

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