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New England News
Fri April 20, 2012
Foxwoods CEO: Competition May Spur Online Gambling
The chief executive of Foxwoods Resort Casino says rising competition is forcing the Indian-run casino in eastern Connecticut to consider online gambling and other changes. WAMC’s Lucas Willard has more…
Scott Butera, CEO of Foxwoods, in a web-based discussion Thursday with The Day of New London, said supply in the casino business is clearly outpacing demand. Gambling has been legalized in Massachusetts and casinos in New York are taking a greater share of the market.
He said he expects additional venues and online gambling to be a part of Foxwoods' future.
Butera also said Foxwoods has concluded negotiations with its creditors and is focusing on completing the transaction.
He would not be more specific, citing confidentiality agreements.
The parent company of the Mohegan Sun casinos announced last month it has refinanced debt of about $1 billion.
Lucas Willard, WAMC News.
Copyright 2012 The Associated Press. All Rights Reserved.