Slot Revenues Are Down Again At Foxwoods
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BOSTON (CBS) – The Mashantucket tribe reports slot revenues of $51 million, on a handle of $589.4 million, a decline of nearly 16 percent from July of last year.
Randy Fine, Managing Director of the Fine Point Group in Las Vegas, consultants to casinos around the country, says the main reason is probably the opening of the Aqueduct Casino in New York, which is one of the main markets Foxwoods focuses on. Fine also says people are still cutting back on what they spend.
WBZ NewsRadio 1030′s Rod Fritz reports
Fine still thinks this is the right time for Massachusetts to get into casinos. He says if you add the revenue at Aqueduct to the revenue at Foxwoods and Mohegan Sun, you would find that the building of Aqueduct actually made the casino business bigger. Fine thinks Massachusetts will see the same thing. He says competition will undoubtedly hurt the Connecticut casinos, but as a whole, the market will expand.
Fine says even with Twin River going after table games to bring itself to full casino status, there is still enough room in New England for 10 casinos. He says people like to gamble, and they like choices of where to gamble.
Fine is a graduate of Harvard University and the Harvard Business School.