Conn. casinos post sharply lower revenue in Dec. - FOX 10 News | myfoxphoenix.com

Conn. casinos post sharply lower revenue in Dec.

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Connecticut News Connecticut News

HARTFORD, Conn. (AP) - Connecticut's two Indian-run casinos say revenue dropped in December, a month after Foxwoods Resort Casino broke a losing streak with a slight rise in revenue and the Mohegan Sun posted a tiny decline.

Foxwoods said Wednesday revenue declined nearly 15 percent, to $37.6 million compared with $44.2 million in December 2012. Revenue is the share of wagers the casino keeps, and betting was down 21 percent, to $431.5 million. Foxwoods is run by the Mashantucket Pequots.

Mohegan Sun reported Wednesday that revenue fell about 8 percent, to $45.9 million. Wagering fell by 7 percent, to $570.6 million.

Foxwoods Chief Executive Scott Butera said the numbers are what executives expected. He says bad weather and Christmas accounted for fewer customers.

The two casinos face intense competition in the Northeast and a weak economy.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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