New England Casinos Blame the Weather

Revenues continue to drop in New England as the weather temps refuse to rise to Spring-like averages. Not only just in Connecticut, but now Maine is reporting a decline in revenue.

Slot machine gambling was down $15 million at the Oxford Casino in 2014 while the Hollywood Casino in Bangor saw a $10 million drop, but the state’s top gambling regulator says he’s not surprised and both casinos are making money.

Could it be that the novelty of Oxford is wearing off, or can we blame it on such a terrible winter?

Connecticut’s casinos say slot machine revenue fell sharply in March, with Foxwoods Resort Casino citing an “ultra-competitive” market.  Foxwoods reported Tuesday that the share of wagers, known as revenue, was $44.6 million, down 10 percent from March 2013. Total slot machine wagering was down 5 percent.

The Mohegan Sun reported revenue down 12 percent. Total wagering was an 11 percent drop from more than $700 million.  Robert J. Soper, chief executive of Mohegan Sun, said the unusually cold March hurt business, but finances are stabilizing.

Let’s hope it’s just the weather.  A little warmth, extra retail (Tanger Outlets) additional projects (Oxford & Mohegan hotel construction) and expansion options (CT satellites & Foxwoods in MA) will stimulate more visits.

That’s all for now.