Mohegan Sun reports steep revenue drop in Aug.

Uncasville, Connecticut (AP) October 2011
Sep 15
The Mohegan Sun says slot revenue plunged 10.6 percent in August as the remnants of Hurricane Irene kept customers home.

The Indian-run casino said that revenue was $59.9 million, down from $67 million in August 2010.

It was the steepest drop in months. Revenue at the southeastern Connecticut casino dropped between 3 percent and 6 percent in the past few months due to weak consumer spending and increased competition in the Northeast.

Jeffrey Hartmann, president and chief executive officer, said the casino lost business during the last week of August as customers without power stayed home. He said the drop in revenue was comparable to January, when slot revenue fell nearly 12 percent because of back-to-back snow storms.

Hartmann said the sour economy and weak consumer spending also continue to cut into revenue.