From the International Herald Tribune:
Across the United States, casino operators point to consumer worries, along with higher gas prices, as factors explaining a drop-off in revenues.
The two giant Indian casinos in eastern Connecticut, for instance, the Mohegan Sun and Foxwoods, were both down in slot-machine play for October and November. Slot revenue at the Mohegan was down 3 percent during those months and fell 7 percent at Foxwoods.
“What we’re seeing is with consumer confidence down and people feeling not so good about their own net worth, people are spending less,” said Mitchell Etess, chief executive of the Mohegan Tribal Gaming Authority. “Declines are somewhat unprecedented for us.”
On the Upper Peninsula of Michigan, where the Sault Ste. Marie Tribe of Chippewa Indians operate five small casinos, revenues have mirrored the price of gas. When prices have risen, said a spokeswoman, Michelle Bouschor, profit has fallen.
“Gasoline prices are having an impact on a lot of the drive-to markets, especially in the more remote areas,” said Bill Eadington, director of the Institute for the Study of Gambling and Commercial Gaming at the University of Nevada, Reno.
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