Casinos’ slots revenue took hit from January storms
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Bad weather in January was blamed for a year-over-year dip in slot-machine revenues at the casinos.
Foxwoods Resort Casino announced Friday it “won,” or kept, $25.3 million in slots revenue last month after paying out prizes, a decrease of 9.6% over the $28 million it kept the same month a year earlier.
Mohegan Sun reported this week it kept $35.6 million in slots wagers in January, down 12.1% over the $40.4 million it kept in January 2023.
Jason Guyot, Foxwoods’ president and chief executive officer, said Thursday most casinos in the Northeast had gotten off to a somewhat slow start in 2024 due to the weather. Foxwoods’ performance in January was a far cry from December, when its slots revenue was up 9% over the same month the previous year.
Jeff Hamilton, Mohegan Sun’s president and general manager, attributed his casino’s January setback to storms.
“A lot of our slot revenue decline was related to winter weather in January,” he said. “We lost a few weekend days this year, compared to almost no snow last year, and that really impacted our business.”
The casinos contributed 25% of their slots win to the state with Foxwoods remitting $6.4 million and Mohegan Sun $8.9 million.
