Connecticut's 2 Indian casinos report another monthly drop in betting, slot machine revenue

Connecticut's two American Indian casinos on Tuesday again reported monthly drops in slot machine betting and revenue.

Mohegan Sun said total slot machine bets in June totaled $574.9 million, down 10 percent from June 2013. Foxwoods Resort Casino reported total wagering of $479.1 million in June, down 5 percent from the same month last year.

Mohegan Sun said the share of wagers known as revenue was $45.3 million, down 10 percent from June 2013. Foxwoods reported revenue of $37.7 million, a 13 percent drop.

With only some exceptions, wagering and revenue have been falling steadily at the two casinos, which face increasing competition and flagging consumer demand in the weak economic recovery.

Robert J. Soper, president and chief executive officer of Mohegan Sun, said the numbers reflect "continued softness not only in this market but in most mature gaming markets throughout the industry."

Foxwoods and Mohegan Sun are looking to expand into Massachusetts to drive up revenue.

Mohegan Sun also is "clearly focused on profitability" at its Connecticut site, Soper said. And the casino will continue to focus on entertainment, which he said has been very successful.

Though wagering dropped nearly one-third since a peak of $10.6 billion in the 2006-07 state fiscal year, Mohegan Sun is "cautiously optimistic that it's close to stabilizing," Soper said.