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MA Slot Players Spending Less

Bay State slot machine parlors have seen a dramatic downturn in business, leading some folks to question the viability of some future proposed casino ventures. In July of this year, Massachusetts citizens spent one hundred thirty-seven million, or six-point-five percent less, on slot machine wagers. The disturbing trend is also present in the state’s southern neighbors of Connecticut and Rhode Island, where casino revenues are down for the first time since the industry’s inception in these places almost twenty years ago. Experts are blaming the poor business on the high costs of fuel and the foundering national economy, both of which are driving down business.

The casino industry is in full-fledged panic mode over the current slot machine revenue crisis. The Mohegan Sun casino of Connecticut has been blitzing the New England Sports Network with television spots during Red Sox games, and it is not the only one. Noting the across-the-board falling profit margins, casinos are in hot competition for the region’s gambling dollars. Industry insiders indicate that casino bigwigs were surprised at the revision of their assumption that there was no limit to what people would be willing to spend on gambling.

Meanwhile, developers are becoming leery of moving forward with several new casinos and slot machine parlors that have been in the works for some time. Casino execs are starting to wonder if this segment of New England has not become saturated with completion. With no end in sight to the government’s troubles, everyone is rightfully questioning if people have the disposable income to throw away on gambling these days.

Back to September 2008 Archive.