Connecticut tribes see big drop in gaming revenues

Tuesday, August 5, 2008  

Connecticut's two federally recognized tribes have seen a big drop in gaming revenues for the first time since they opened their casinos in the mid-1990s.

Over the past year, the Mashantucket Pequot Tribal Nation and the Mohegan Tribe saw a combined loss of $76 million in slot machine revenues. The drop came even as the Pequots opened a new casino, the MGM Grand at Foxwoods. The Mohegans are about to open an expansion of the Mohegan Sun Casino that cost nearly $1 billion.

Casino executives said the downturn in the national economy affects their bottom line. They also pointed to increase competition in Rhode Island and New York.

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Mohegan Sun, Foxwoods see revenue plunge $76M (The Boston Herald 8/5)