"US gambling casinos are in trouble. The two largest casinos in the world, Foxwoods and Mohegan Sun (both in Connecticut), have real problems. With $2.3 billion in debt, Foxwoods is struggling. It just reported August 2012 slot revenue of $50.5 million, a 3.3% decline compared to the same month a year ago. Foxwoods is not bullish on its gambling market. So it is building a 300,000-square-foot retail center, including space for 75 outlet stores. Mohegan Sun? It is having to deal with $1.6 billion in long term debt.

As Table 1 indicates, US casino gambling revenues continue to fall. In Las Vegas, total gambling revenues are down 16% since the July to June 2006 - 2007 year, with slots revenues down even more. Both Connecticut casinos are doing worse with slots down 25% and 24% for Mohegan Sun and Foxwoods respectively.

As I have suggested in an earlier piece, things will probably get worse for the Connecticut casinos as new casinos are built in Massachusetts and New York."

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Elliott R. Morss: Foxwoods And Mohegan Sun: Coming Threats From New MA/NY Casinos (Seeking Alpha 9/17)