www.courant.com/business/hc-mohegan0208.artfeb08,0,2244377.story
"The Mohegan Sun casino experienced a "disastrous December" that
resulted in a 9 percent decline in slot machine revenue, caused in part
by an aggressive slot machine promotion at neighboring Foxwoods Resort
Casino, Mohegan executives said."
Big decline in Atlantic City as well.
Might be the weather sucked or the new slots in PA and the VLT's in
Rhode Island and NY or gasoline prices or recession?
--- One would think with the sub prime mess, declining home prices,
higher heating and gas prices, all the casinos are feeling the
economic pinch
Mel
www.courant.com/business/hc-mohegan0208.artfeb08,0,2244377.story
"The Mohegan Sun casino experienced a "disastrous December" that
resulted in a 9 percent decline in slot machine revenue, caused in
part
by an aggressive slot machine promotion at neighboring Foxwoods
Resort
In vpFREE_NewEngland@yahoogroups.com, "haaljo" <haaljo@...> wrote:
Casino, Mohegan executives said."
Big decline in Atlantic City as well.
Might be the weather sucked or the new slots in PA and the VLT's in
Rhode Island and NY or gasoline prices or recession?
Heard on the news today that Moody's is considering dropping the bond
rating of MS which could endanger the new hotel and expansion.
While the economic slowdown and competition explain the drop in the
last quarter, it is high time that the State of Connecticut and
regional economic commissions confer with both tribes. Compared to
say Atlantic City there has been done little in the area to further
attract tourism.
I understand each tribe has been loathe to fund attractions which
would equally benefit the other's casino, but without regional
development further growth and expansion seem compromised. What
happened to plans to develop a Six Flags amusement park, why was the
high speed ferry from Long Island dropped? A State backed convention
center located between the two casinos might increase major
convention potential. Given the economic distress, the tribes might
be more receptive to relaxing their historic animosity, if a timely
initiative were presented by the State.
In the short run each casino's incentives are good for us players and
my wife and I have been recieving increased incentives while playing
less and spending more time in Las Vegas.
David
Normally gaming companies do well in economic bad times (although this is the worst its been since the depression and will get worse)
check out these two things
http://www.gamingandcasinofund.com/
http://moneycentral.msn.com/investor/charts/chartdl.aspx?iax=1&Symbol=%24DJUSCA&CP=0&PT=11
the second is the Dow Jones casino and gambling index...notice 2001 when the dot.com bubble burst...a slight downturn then a big up move.
Basically the theory goes that when times go bad, people buckle down...when times get worse, people lose jobs, homes etc...they feel that they can "take a shot" and try and "make a score" if your down to $1000 in your bank account lost your job and your house where else can you turn that into 10's of thousands quickly ? If you lose it are you that much worse off ?? not that I condone this but I understand the psyche behind it.
I remember an article after Katrina hit, the red cross gave out $200 debit cards for people to buy food etc...something like 50% where used at casinos and strip clubs. I predict this is what will happen with the Bush stimulus scam/plan...$600 will be going to a casino not to a $4000 mortgage. When all is lost people want hope, the casino gives "hope" even if its for a short time.
Just my two cents
d_richheimer <d_richheimer@yahoo.com> wrote: Heard on the news today that Moody's is considering dropping the bond
rating of MS which could endanger the new hotel and expansion.
While the economic slowdown and competition explain the drop in the
last quarter, it is high time that the State of Connecticut and
regional economic commissions confer with both tribes. Compared to
say Atlantic City there has been done little in the area to further
attract tourism.
I understand each tribe has been loathe to fund attractions which
would equally benefit the other's casino, but without regional
development further growth and expansion seem compromised. What
happened to plans to develop a Six Flags amusement park, why was the
high speed ferry from Long Island dropped? A State backed convention
center located between the two casinos might increase major
convention potential. Given the economic distress, the tribes might
be more receptive to relaxing their historic animosity, if a timely
initiative were presented by the State.
In the short run each casino's incentives are good for us players and
my wife and I have been recieving increased incentives while playing
less and spending more time in Las Vegas.
David
---------------------------------
Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now.
[Non-text portions of this message have been removed]
The answer is d) all of the above. -Russ
--- In vpFREE_NewEngland@yahoogroups.com, "haaljo" <haaljo@...> wrote:
Might be the weather sucked or the new slots in PA and the VLT's in
Rhode Island and NY or gasoline prices or recession?
Jack,
That was a good post. I see it up here in Boston area for sure.
David and Teresa in Boston.
--- In vpFREE_NewEngland@yahoogroups.com, Jack Gaffney
<jakgaph2005@...> wrote:
Normally gaming companies do well in economic bad times (although
this is the worst its been since the depression and will get worse)
check out these two things
iax=1&Symbol=%24DJUSCA&CP=0&PT=11
the second is the Dow Jones casino and gambling index...notice 2001
when the dot.com bubble burst...a slight downturn then a big up
move.
Basically the theory goes that when times go bad, people buckle
down...when times get worse, people lose jobs, homes etc...they feel
that they can "take a shot" and try and "make a score" if your down
to $1000 in your bank account lost your job and your house where else
can you turn that into 10's of thousands quickly ? If you lose it
are you that much worse off ?? not that I condone this but I
understand the psyche behind it.
I remember an article after Katrina hit, the red cross gave out
$200 debit cards for people to buy food etc...something like 50%
where used at casinos and strip clubs. I predict this is what will
happen with the Bush stimulus scam/plan...$600 will be going to a
casino not to a $4000 mortgage. When all is lost people want hope,
the casino gives "hope" even if its for a short time.
Just my two cents
d_richheimer <d_richheimer@...>
wrote: Heard on the news today that
Moody's is considering dropping the bond
rating of MS which could endanger the new hotel and expansion.
While the economic slowdown and competition explain the drop in
the
last quarter, it is high time that the State of Connecticut and
regional economic commissions confer with both tribes. Compared to
say Atlantic City there has been done little in the area to
further
attract tourism.
I understand each tribe has been loathe to fund attractions which
would equally benefit the other's casino, but without regional
development further growth and expansion seem compromised. What
happened to plans to develop a Six Flags amusement park, why was
the
high speed ferry from Long Island dropped? A State backed
convention
center located between the two casinos might increase major
convention potential. Given the economic distress, the tribes
might
be more receptive to relaxing their historic animosity, if a
timely
initiative were presented by the State.
In the short run each casino's incentives are good for us players
and
my wife and I have been recieving increased incentives while
playing
less and spending more time in Las Vegas.
David
---------------------------------
Be a better friend, newshound, and know-it-all with Yahoo! Mobile.
Try it now.
[Non-text portions of this message have been removed]
--- In vpFREE_NewEngland@yahoogroups.com, "haaljo" <haaljo@...>
wrote:
www.courant.com/business/hc-mohegan0208.artfeb08,0,2244377.story
"The Mohegan Sun casino experienced a "disastrous December" that
resulted in a 9 percent decline in slot machine revenue, caused in
part
by an aggressive slot machine promotion at neighboring Foxwoods
Resort
Casino, Mohegan executives said."
Big decline in Atlantic City as well.
AC decline is definitely due to competition from Pa.
As for Mohegan Sun ? Boo-hoo. Yeah I'll really "feel sorry" for
the rich bastards ! Hope the Mass. Gov. gets his way and then we'll
really see competition !
Larry F.