Revenue Slide Causes Foxwoods & Mohegan Sun to Raise their Ante in Mass
Slots revenue at Foxwoods and Mohegan Sun has slid for 16 consecutive months and the operators of the two Connecticut casinos hope to reverse the trend by targeting a new set of gamblers in Massachusetts. Each is competing for one of the three resort casino licenses in different geographic regions in Massachusetts.
Foxwoods has proposed a $1 billion, 300,000 square foot resort with 4,725 slot machines and 125 table games off I-495 in Milford, about 15 miles from the Rhode Island border.
Mohegan Sun has partnered with Finard Properties to propose an $800 million, 300,000 square foot retail complex and casino in Palmer in the western Massachusetts region.
The Massachusetts Gaming Commission is scheduled to award the licenses early next year and the casinos could open as early as 2015, but more likely in 2016.
Meanwhile, slots revenue at the Connecticut casinos has erode from the slow economic recovery and the siphoning off of gamblers to casinos in New York and New Jersey.
For April, the total amount played at the slots at Foxwoods was $528.9 million, off 12 perent from April, 2012. At Mohegan Sun, the totaled wagered in April was $627.5 million, down five percent from the comparable month a year ago.
Mohegan Arena Looks To The NCAA?
The Mohegan Sun Arena looks to be getting the American Athletic Conference women's basketball championships in 2014, but its hopes of getting some NCAA Tournament games were delivered a blow Thursday. The Mohegan Sun, endorsed by coaches and athletic directors at the AAC meetings this week, now awaits formal approval by the presidents. That is expected soon, and then the final negotiations can take place.
Rick Nixon, an NCAA spokesman, said Thursday that the casino's chances of being granted a regional were slim. "At this point in time, the NCAA policy has not changed [regarding casino sites], so we could not consider their bid for a regional," Nixon said.
Mohegan Sun Expands Resorts (AC) Offerings
Margaritaville, the sprawling Jimmy Buffett-inspired dining and entertainment complex at Resorts Casino, was unveiled Thursday, with Gov. Christie cutting the ribbon.
"This place is an example of the fun and entertainment that Atlantic City can be all about," said the Republican governor, who was introduced by Mohegan Tribal Gaming Authority chief executive officer Mitchell Etess. The authority became co-owner of Resorts with majority owner Morris Bailey last year, and the 40,000-square-foot Margaritaville project was among the first announced by the partnership. Mohegan Sun also owns casinos in Connecticut and Pennsylvania.
Foxwoods to Pursue Online Gaming
The Mashantucket Pequot Tribe, owner of Foxwoods Resort Casino, announced Monday it will partner with GameAccount to pursue online gaming opportunities in the United States.
"The alliance brings together the owners and operators of the largest resort casino in North America and one of Europe's leading independent privately owned Internet gaming system and software providers," the tribe said in a statement. "The parties will initially focus on play-for-fun online gaming opportunities in the U.S., and in the event that legislation is enacted allowing real-money wagering, the parties will utilize GameAccount's cutting edge technology and platform to ensure a safe and fair game for all players."
The agreement is subject to regulatory approval. Foxwoods.com, which the tribe said has about 1 million monthly visitors, will begin offering free-play Internet gaming at some point this year, the tribe said. The tribe and GameAccount also will collaborate to provide business-to-business services to other U.S. gaming operators.
"The Mashantucket Pequot Tribe has long been a leader in brick and mortar casino operations, and with the help of GameAccount we aim to take the same leadership position in regulated online gaming in the U.S.," Rodney Butler, tribal chairman, said. "Our shared vision unites GameAccount's technical capabilities with our Foxwoods brand and our leadership in casino management."
Mohegan Sun Also Looks into On-line Poker
Mohegan Sun, reached an agreement with Las Vegas-based Bally Technologies to provide customers with access to free online poker.
"It's important," Mitchell Etess, chief executive officer of the Mohegan Tribal Gaming Authority, said. "We're going to have a free-play poker site up and running by the end of the year. We'll be in a good position to go live with video poker if it becomes legal."
Most observers believe the federal or state governments will approve online gaming at some point.
"It's more about when and how than if," Etess said. "We want to be prepared."
Under the agreement, Bally Technologies, a gaming-technology leader that's developed a growing portfolio of online gaming sites for casino operators, will provide its iGaming platform to Mohegan Sun and Mohegan Sun at Pocono Downs in Wilkes-Barre, Pa., enabling customers to play online poker without wagering money.
That's all for now. Have a Royal Memorial Day weekend and remember all those who gave their lives for our freedom!
Binbin
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