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Casino News:

  Improvement in the downward trend of profits of two casinos

As per information collected from Foxwoods Resort Casino and Mohegan Sun Casino on Friday, they faced an instant fall of 3% against the amount gambled worth $49.5 million and 3.7% against the amount gambled worth $54.8million respectively in the profits earned from the slot-machine during the month of June as compared to the year 2011. The rapidity of downfall was more in the month of April when it was more than 10% and during May, it was more than 9% as faced by both the casinos. Jeffrey Hartmann, the chief executive officer and president of Mohegan Sun stated that they are happy that their profit returns are improving now. He added that commencement of the slots parlor Resorts World in October, 2011 at the Aqueduct racetrack in New York City and Revel casino costing $2.4 billion in Atlantic City has given tough competition to all the casino operators in the Northeast whether in New York, New Jersey or Connecticut.
The profit returns by the Resorts World were recorded to be highest during the month of May in the whole US. But it was only $54.1 million in June even less than Mohegan Sun’s profits as per information provided by the New York Lottery’s website. The fall in profits against the amount gambled on the “handle” slot machines as experienced by Foxwoods and Sun was roughly same in June. It was 6.6% against $575.7 Million for Foxwoods’ and 6.7% against $679.3 million for Sun. The total money supplied by the two casinos to the state during the financial year 2011-12 is $344.3 million that is 4.2% less than the last financial year. The money supplied by two casinos individually to the state is $165.5 million by Foxwoods and $178.8 million by Mohegan Sun.


   2012-07-21






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