Mohegan Sun Casino Slashing Pay, Benefits

Full story: Hartford Courant

Mohegan Sun is unilaterally reducing employee pay and benefits in the face of "unprecedented market conditions" that have cut into revenue at the 3.1 million square foot casino.
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41 - 60 of 133 Comments Last updated Feb 9, 2009
Nemesys

Danbury, CT

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#45
Jan 12, 2009
 

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"Foxwood axed 700, remember? I suspect this casino is truthfully trying to be more humane to its employees, and as such, they should be applauded."

Foxwoods had no choice but to axe them, since they were unionized and not able to cut salaries. The union didn't give them any choice. I suspect that Foxwoods will be cutting more employees soon.

Which casino will survive the next 5 years, the unionized one or the non-union? The key to survival will be flexibility, and I don't think Foxwoods has it anymore with that union, while Sun can use more common sense and can take humane approaches. It'll make a great case study when it's all over.
morty

Storrs Mansfield, CT

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#46
Jan 12, 2009
 
I had a friend who went down to Mohegan during the day on Thursday and said nobody was there....slot machines were aplenty....
Bernie Madoff

Windsor, CT

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#47
Jan 12, 2009
 

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I love to gamble!
Fromer BJ Dealer

Vernon Rockville, CT

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#48
Jan 12, 2009
 

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Now all they have to do is change the random number generator in the slots to reduce payouts to the maximum number allowed so customers lose the maximum mandated by the state (90%, the 2nd highest lose rate in the nation) and make BlackJack dealers perform "selective schuffles" that allows players to lose even more hands to increase the house edge and...oh...wait....already done.
Fromer BJ Dealer

Vernon Rockville, CT

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#49
Jan 12, 2009
 
Grampy wrote:
With gambling revenues down do you think they might lower the winning percentages on their machines?
They are already at the lowest allowed. They have the 2nd lowest win rate in the entire country.
yup

Rocky Hill, CT

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#50
Jan 12, 2009
 
Grampy wrote:
Facing reduced revenues a company avoids layoffs by reducing salaries and benefits across the board. Perhaps Jodi and the lobbyist lackeys that make up the CT legislature should be taking notes.
Good point. Rell wants to cut benefits to state employees but I bet her and all of her cronies will still be getting their raises and benefits!
wow

Cheshire, CT

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#51
Jan 12, 2009
 
A company with the savy to do the hard monetary things that make sense in this economy. The state could take a note from this.
h c ecco

Branford, CT

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#52
Jan 12, 2009
 
the reporting is a liitle hazy...the revenue/profits stuff needs clarification before the true weight of the salary/benfits cut- backs can be determined (and the character of the"respect for our employees" versus "responsibiliy to our banking partners" sentiment can be judged...not to mention the "no layoffs" management spin which ought to be pursued behind the convenient distinctions of "buy-out" offers and (1100!) "jobs already cut".


Richard

Lincoln, NE

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#53
Jan 12, 2009
 

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Perhaps this article should serve to illustrate the need for accuracy in media. The headline word "slashing" is very dramatic; but the salary reduction for the average worker is put at 4 percent. Does a cut of that scale, while certainly unpleasant, merit such a word?

Or is the goal to get people reading, accuracy be damned?

I note that "merit-based salary increases" are frozen. How about increases not based on merit?

Anyway, while nobody wants to see workers in any legitimate business suffer, perhaps the casino industry is a kind of metaphor for the Wall Street excesses. Certainly when our basic industries are ailing, it's hard to conjure up too much sympathy for a business that simply takes money from Peter and hands it to Paul, all the while taking a nice slice for itself, and (in my opinion) providing no useful goods or services.

Can we extend that way of thinking to Hollywood and the 'entertainment' industry, that has lowered our culture? Absolutely.
Fromer BJ Dealer

Vernon Rockville, CT

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#54
Jan 12, 2009
 

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In 2008, Mohegan Sun took in 4.1Billion dollars in slot play alone. However, they only paid out 355Million. Trust me, they made money.
Mitch

Hartford, CT

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#55
Jan 12, 2009
 
Fromer BJ Dealer wrote:
In 2008, Mohegan Sun took in 4.1Billion dollars in slot play alone. However, they only paid out 355Million. Trust me, they made money.
A few posts back you spoke of a 90% win for patrons. Do you realize that $355m is only 8.7% of $4.1b? It would make more sense that the casino "won" $355m of the $4.1b dropped on slots. Learn math before you start spouting off!
Nemesys

Danbury, CT

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#56
Jan 12, 2009
 
Casino math ain't the same as regular math. Even if the win rate is 99%, if you play long enough you'll lose all your money. The house never loses in the end, except on overhead.
duh

East Hartford, CT

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#57
Jan 12, 2009
 
decrease in revenue STILL means that they are making money, just not as much
Former BJ Dealer

Vernon Rockville, CT

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#58
Jan 12, 2009
 

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Mitch wrote:
<quoted text>
A few posts back you spoke of a 90% win for patrons. Do you realize that $355m is only 8.7% of $4.1b? It would make more sense that the casino "won" $355m of the $4.1b dropped on slots. Learn math before you start spouting off!
The state gets money as well. The math won't always add up because of the state's take on the slots, which varies on a monthly basis. Casino's also use a "weighted average" so it will never be exact.
Former BJ Dealer

Vernon Rockville, CT

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#59
Jan 12, 2009
 

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Nemesys wrote:
Casino math ain't the same as regular math. Even if the win rate is 99%, if you play long enough you'll lose all your money. The house never loses in the end, except on overhead.
EXACTLY. There are thounsands of idiots that play slots on a daily basis that actually think that they are "lucky" EVERY game in the casino is desgined for you to lose money. People complain that they are broke, that the economy is bad, but yet they hit the good ole' slots. There is even an inside nickname for slot players at the casinos. They call them "suckers". Seriously, they really do. "Weather's gonna be bad today, slow day for the tables, but the suckers will be here"
Uncouth Ct

Meriden, CT

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#60
Jan 12, 2009
 
What kind of escape clause did they have in their 401k's that allows them to bow out? Do the employees have the same opportunity to suspend their participation? Wish the Courant had explored that aspect of the issue.
CT Luver

Windsor, CT

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#61
Jan 12, 2009
 
This is how business handles slow downs in revenue---Mrs' Rell---can you hear me????

Anyone home?
Former BJ Dealer

Vernon Rockville, CT

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#62
Jan 12, 2009
 

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One more thing. When a casino says that they only kept 10% of the winnings, that's not really so. You see, if you were to put lets say, 100.00 into a slot machine, and you lost a couple bucks, then won a couple, but 20 minutes later, you were at 0.00, the machine (according to the rules) actually only kept 10% of that 100.00, even though you lost it all. You see, those little wins, 1.00 here, 5.00 here, actually count to the "win rate" for the slot machine. So people actually think that the machines "owe" certain amounts of money. The way the casinos see it, they gave you a chance to take some money back, but you decided to gamble it.
Uncouth Ct

Meriden, CT

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#63
Jan 12, 2009
 

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Hope the indians have the common sense and grace to eliminate their over the top spending habits or its going to get ugly.
Mitch

Hartford, CT

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#65
Jan 12, 2009
 

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Former BJ Dealer wrote:
<quoted text>
The state gets money as well. The math won't always add up because of the state's take on the slots, which varies on a monthly basis. Casino's also use a "weighted average" so it will never be exact.
I'm not defending the situation, but you still have to have the facts before you can take sides. The state's take does not vary, it's 25% of gross revenues, however in calculating net win the casinos don't factor that in. The calc is simple, how much money is inserted into a game, minus how much was paid out to players = net win. Also, weighted averages only come into play in determining the casino win per day per game, since you have a different # of games operating on the floor each day.

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