Connecticut casinos see recovery signs in January
Mohegan Sun and Foxwoods in Connecticut showed signs of recovery in the gaming industry as they both reported a rise in revenue in January.
Foxwoods last week posted $24.5 million in revenues for January, up 14% from December's $21.5 million, as reported by Hartford Business. Mohegan Sun saw slots revenue bounce back in January, rising 16.7% to $37.6 million, up from $32.2 million in December.
While still 14% below the $43.8 million in revenues posted in the year-ago period, before the pandemic hit the state, Mohegan Sun’s results showed a rebound from post-pandemic lows recorded late last year. The handle rose 9.4% to $441 million in January from $403.4 million December, down 16.6% from the $529 million in January of 2020.
Both of Connecticut’s casino operators are looking overseas for growth. Mohegan Sun’s parent company, Mohegan Gaming & Entertainment, announced last month that it would bid on a license to develop a resort casino in Japan to expand its footprint in Asia. MGE plans to open a $5 billion resort at Incheon International Airport in South Korea in 2022. Foxwoods plans to open a new casino in Puerto Rico later this year.
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