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New England Casino News, Gambling Topics and More

Thursday, February 28, 2013

Foxwoods Friday - Good News, Bad News

Good News - Nice Addition to Foxwoods Retail...
Foxwoods Celebrated Another Step of Revitalization on Saturday, February 9 with Grand Opening of Winners Retail Outlet. The new, larger store features a fun, modern look and provides added convenience to Foxwoods' guests. Winners is now the premier shopping venue for delicious snacks, Foxwoods logo gifts and all things Bingo. The new merchandise assortment provides all guests with their last minute necessities as well as ?grab & go' dining options including an all-new Asian snack corner. With Mardi Gras in the air, guests are invited to attend the grand opening celebration of Winners with a New Orleans-style parade. Complimentary King Cakes, a traditional Mardi Gras fare, will also be available during the parade. The new store, located adjacent to Panera Bread, remains in close proximity to Foxwoods' iconic Bingo Hall, offering the average 1.2 million annual Bingo players, an assortment of Bingo daubers, ticket holders and accessories. The 2,000 sqaure foot retail location is five-times larger than the original location, allowing Foxwoods to offer everything from bingo accessories to candy and convenience food, health and personal care items, as well as lucky charms and souvenirs.

Bad News - Emplyee layoffs...
Foxwoods Resort Casino informed employees Wednesday of impending job cuts, though Scott Butera, president and chief executive officer, offered no specifics about the number of workers who would be let go.

"It's fairly modest," he said. "We don't anticipate any drop off in service. It's about streamlining and becoming more efficient."

He declined further comment, however in a memo to employees he said the casino must adjust to the ongoing decline in its business, but in the memo, Butera refers to the debt-restructuring efforts of the Mashantucket Pequot Tribe, which owns Foxwoods, including MGM Grand at Foxwoods. Butera has been involved in the tribe's efforts to restructure $2.2 billion in debt since his arrival in 2011.

Less than two weeks ago, Foxwoods reported its slot-machine revenue for January was down 12.1 percent over the same month in 2012, its fifth straight month of double-digit declines. Its January slots "win" — the amount it kept from wagers after paying out prizes — was the lowest of any month since December 1996.
Foxwoods' workforce numbers about 8,000, down from more than 10,000 several years ago. The casino has not announced major layoffs since letting go some 700 workers in October 2008.

That's all for now

Binbin

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