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Connecticut Still Seeing Drop

The slot machines at the casinos in the state of Connecticut are still not doing very well. They are finding that the recession is taking a bit longer to turn around and that they are facing even fewer revenues from their slot machines. Two of the largest casinos in the world – the Mohegan Sun and the Foxwoods Casino have been taking a beating in the slot machine revenue area – and they are not two casinos that take that well.

For a long time they were still holding strong on their slot machine revenues when the rest of the world was having a hard time – but then things started changing. Still undeterred they were sure that things would turn around quickly especially for them as they have always been very successful. But on both counts they were proved wrong. According to their latest reports, both of their slot machine revenues were down from the same time a year ago in May. Foxwoods was down 6% and Mohegan Sun was down almost 7%. This is bad news for a state that really depends on those slot machine revenues.

Some say that this should be taken as wake up call for those states looking to bring in slot machines or bring in more of them in order to shore up low cash flow for their budgets. They say that this is a perfect example of why slot machines should not be relied upon to bring in a certain amount of revenue especially when there is no real way of guaranteeing a certain amount of money will be made on a flimsy way of earning cash. They hope that this will help dissuade other states from making the same mistake, but they understand that many of them will simply look at this as a cautionary tale of what they won’t do when they are bringing in slot machine revenues too.

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