Foxwoods Resort Casino Archives

Connecticut casinos lick wounds as 2020 took big bites out of revenue

Casino

By Peter Amsel

7 January 2021

Connecticut's two tribal casinos -- Mohegan Sun and Foxwoods -- report stark declines in fiscal 2020 gaming revenue.

connecticut-tribes-shelve-east-windsor-casino-igaming-sports-betting

Connecticut tribes shelve JV casino, smoothing path for iGaming/betting

Business

By Steven Stradbrooke

9 December 2020

Connecticut's two tribal gaming ops shelve East Windsor JV casino plan, potentially clearing way for iGaming/sports betting legalization.

Connecticut’s Foxwoods targets older gamblers with new gaming space

Casino

By Erik Gibbs

6 November 2020

The casino hopes to attract the 55-and-older crowd with a dedicated gaming space and Boone’s Farm wine.

The best US casino outside Sin City is located on the Eastern Seaboard

Casino

By Erik Gibbs

6 October 2020

USA TODAY has published its annual list of the best US casinos outside Las Vegas.

Connecticut’s tribal gaming operators will partially reopen their venues on June 1, much to the chagrin of the state’s governor. On Wednesday, the Mashantucket Pequot Tribal Nation and the Mohegan Tribe announced that they would “begin the reopening of portions” of their reservations, which include (respectively) the Foxwoods Resort Casino and Mohegan Sun, which were shut on March 17 to minimize spread of the COVID-19 coronavirus. https://calvinayre.com/tag/foxwoods-resort-casino/ https://calvinayre.com/tag/mohegan-sun/ The tribes say they collaborated on new safety protocols and operating procedures to minimize risks to both casino guests and staff, including protective equipment, physical distancing and mandatory masks for guests. Neither property will open its buffets, concert venues or poker rooms, while tenant restaurants will be open on a take-out only basis. The casinos also “will be catering to Connecticut and Rhode Island residents only.” No out-of-state buses will be “accepted” and “no out-of-state marketing to New York or Massachusetts will take place at either property,” although one suspects the odd VIP gambler from those states might just find a way through these roadblocks. The tribes might be in agreement but Gov. Ned Lamont called the decision to reopen an “incredible risk,” both for staff and guests, particularly “older people … with pre-existing conditions.” Lamont further claimed that “it’s risky for the region because you have a lot of employees that go back out into the region.” Mohegan Tribe chairman James Gessner responded to Lamont’s concerns by noting the tribes’ commitment to deter most out-of-state customers and their public statements about urging older customers to “take specific precautions and to stay home if they are part of an at-risk group.” Mashantucket Pequot chairman Rodney Butler told the Associated Press that state officials were welcome to tour the casinos and, if they can find “something that we’re doing in operations that we can do for the better, we’re certainly open to those conversation.” https://www.usnews.com/news/best-states/connecticut/articles/2020-05-21/tribes-open-to-suggestions-but-still-plan-to-reopen-casinos Whatever Lamont’s concerns, he’s effectively powerless to stop the federally recognized tribes from doing as they please on their sovereign territory – although he noted Thursday that the state controls their liquor licenses. And the tribes have their own concerns, given that the casinos are the primary economic engines of their peoples. MGE SEEKS $100M That economic urgency was underscored this week following reports that Mohegan Gaming & Entertainment (MGE) had missed a self-imposed deadline of May 11 to raise $100m. The company is looking to ensure its liquidity position as well as fund its expansion projects, including the Hellinikon integrated resort project in Greece. https://calvinayre.com/tag/mohegan-gaming-entertainment/ https://calvinayre.com/tag/hellinikon/ Bloomberg reported that MGE had offered to pay 14% interest for a new loan maturing in October 2021 but would-be lenders were spooked by a variety of factors, including around $400m of MGE debt that comes due in 2021 and questions over whether claims could be made on MGE assets on tribal land should the company default. https://finance.yahoo.com/news/mohegan-sun-tribal-owners-pushback-113044525.html The news will likely be used by US tribal gaming operator Hard Rock International (HRI), which still hasn’t gotten over the fact that MGE was chosen to build Hellinikon over HRI. https://calvinayre.com/2020/05/07/casino/greek-court-rejects-hard-rock-appeal-hellinikon-casino-license/

Connecticut governor calls casino reopening plans “incredible risk”

Casino

By Steven Stradbrooke

21 May 2020

Foxwoods loses CEO, Connecticut casinos extend shutdown

Casino

By Steven Stradbrooke

14 April 2020

Foxwoods Resorts Casino CEO John James resigns after just nine months to spend more time with family; Connecticut casinos extend COVID-19 shutdown.

Encore Boston punishing Massachusetts’ other casinos

Casino

By Peter Amsel

15 January 2020

Wynn Resorts' Encore Boston Harbor casino has record month in December while state's other two casinos suffer record lows; Connecticut slots decline again.

Connecticut’s tribal casinos blame regional rivals for revenue dip

Casino

By Peter Amsel

3 January 2020

Connecticut's two tribal casinos -- Foxwoods and Mohegan Sun -- each report annual net revenue declines due to increased regional competition.

Foxwoods Casino has a new CEO

Casino

By Erik Gibbs

18 July 2019

A longtime casino executive, John J. James will officially fill in the vacant position at Foxwoods Casino on August 12th.

Quarters aren’t the only thing dropping with Connecticut’s slots

Casino

By Erik Gibbs

17 July 2019

Connecticut tribes give 25% of the GGR from slot machines to the state and have always been a major source of revenue for government wallets, but the take continues to steadily decline.

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