Tag Archives: Mashantucket

Foxwoods & MGM Grand Slot Win Sends $15.9 Million to State

Foxwoods Resort Casino and MGM Grand at Foxwoods reported to the state Division of Special Revenue a net slot win of $63.6 million, a $6.1 million decrease from June 2007.

The casino’s owners, the Mashantucket Pequot Tribal Nation, also reported a $15.9 million contribution to the State of CT for June, 2008, increasing to $2.684 billion the amount given to the State since January 1993, when slot machines were introduced at Foxwoods.

“The gaming industry is in the most challenging time in its history. This past month saw an industry-wide downturn in revenues fueled by record breaking gas prices and unstable economic indicators.” said Barry Cregan, interim president, Foxwoods Resort Casino. “The month of June provided a “soft opening” period for the MGM Grand at Foxwoods. Due to the service centric culture that is a signature aspect of the property, we implemented a brand marketing campaign by design and were strategic in our marketing offerings to allow the new employees and property to establish a strong service experience. We are focused on long term strategies that will serve us well over time, in addition to short term initiatives that will respond to the current market trends that appear to be affecting our current customer base.”

The report noted that the hold percentage, the amount kept by the casino, was 8.54 percent, meaning that 91.46 percent of all the money that went into the machines was given back to players. The hold percentage was 8.56 percent in June 2007. The slot handle in June 2008 was reported to be $745 million compared to $815 million in June 2007.

The June slot win report noted that the casino’s win per unit per day was $260.41 compared to $321.49 in June 2007. In addition, 8,147 slot machines were in play during the month at Foxwoods and MGM Grand at Foxwoods, 911 more than the 7,236 available in June, 2007.

Foxwoods supports responsible gaming, and plays a leadership role in the CT Council of Problem Gambling, of which it was a founding entity. For more information, call 1.800.FOXWOODS or visit www.foxwoods.com.