Connecticut”™s casinos posted mixed returns for their slot revenue totals in July, with Mohegan Sun scoring a profit and Foxwoods Resort Casino recording a decline.
Mohegan Sun, which is owned and operated by the Mohegan Tribal Nation, announced July slot revenues of $47.5 million, up from the $46.7 million recorded in July 2019.
The amount slot bettors wagered in July, known as the “handle,” was $549 million, a drop from the $570 million recorded one year earlier.
Foxwoods, which is owned and operated by the Mashantucket Pequot Tribal Nation, announced July slot revenues of $30.5 million, down from the $38 million recorded one year earlier. The casino”™s handle was $357 million, a steep fall from the $479 million recorded one year earlier.
The casinos are required to channel 25% of slot revenues into Connecticut”™s General Fund. Mohegan Sun Foxwoods said it paid $11.9 million to the state last month while Foxwoods provided about $7.6 million.
The casinos, which reopened for business in June, are still struggling to find their footing amid the pandemic economy. Foxwoods has postponed all concerts scheduled for September while Mohegan Sun said it would be laying off an unspecified number of employees.
“This difficult decision came after careful consideration and was driven by the unprecedented circumstances created by the pandemic, including reduced capacity and the inability to open all of the property amenities,” Mohegan Sun President and General Manager Jeff Hamilton said.
Yes for 28 years … at 25% so The big ?? Where did all that CT slot revenue actually go??? Billions.. General Purpose fund?? Where the books?