The timing of Labour Day this year had a drastically negative effect on two casinos in Connecticut. Both casinos saw a drastic fall in revenues from slot machines this August when compared to the previous year. Foxwoods Resort casino in Mashantucket earned $42.5 million from its slot machines in August, but the amount was a 9.5% drop over the earnings for August 2014. Similarly, Uncasville’s massive Mohegan Sun casino reported earnings of only $52 million, down 7.5% from the previous year.
Casinos traditionally see a lot of traffic over the Labour Day weekend and they rake in immense earnings during this period. Labour Day, which is celebrated on the first Monday of September fell on 1 September in 2014, which meant that holidays preceding it were in August. However, this year, Labour Day was on 7 September and the corresponding weekend was in the same month. This is without doubt one of the most important reasons for the drop in the slots’ earnings in August.
Ray Pineault, president and general manager of Mohegan Sun admitted that the casino earned approximately $4 million less this August than the previous year. However, he is not terribly concerned about the issue because these anomalies occur occasionally and they even out over a period of three months or so. In fact, this is not a problem for the casino at all since it is not indicative of a trend.
Pineault went on to say that the business was looking up for the month of September. Moreover, Pineault said that increasing revenues from table games would help the casino do better business than the previous year overall. There was no change in total revenues from slot games from one year to the other. As a matter of fact, the disappointing performance of slot games has led casinos to reduce the number of slot machines they feature. While Foxwoods has reduced the number of its slot games by a surprising 18.5% or 1,000 machines, Mohegan Sun has lowered the number by 5.5%.
Casinos are looking for ways to drive revenues by increasing their entertainment quotient since people visit them not necessarily to gamble, but mainly to have a great time. They introduce a number of nongaming offerings to get customers to spend more money every time they visit. Mohegan Sun has just introduced Pasta Vita, which offers a wide range of freshly prepared and delicious salads, soups, entrées and desserts. Similarly, Carlo’s Bakery also opened there a few days ago. The Foxwoods Casino saw the opening of a King Ink tattoo studio a few weeks ago.
Both casinos are quite important for the state since they provide tax money as well as employment to large numbers of people. In fact, the tribal leaders in the state are planning to locate a new casino near Hartford so that around 9,000 new jobs can be created in the state. The project is a very large one and the developers need to get a number of approvals before any work can commence.