Foxwoods’ revenues up in quarter that ended June 30

Net income totaled $212.7 million, 4.6% rise over same period in 2016

Mashantucket — Foxwoods Resort Casino reported this week that its net revenues totaled $212.7 million during the three months that ended June 30, an increase of $9.3 million, or 4.6 percent, over the same period the previous year.

The gain was partially offset by higher operating expenses of $8.9 million, a 5.3 percent increase.

Gross gaming revenues were $179.3 million, up 4.3 percent, while gross nongaming revenues totaled $53.3 million, a 4.8 percent increase. Gaming — slot machines, table games and poker — accounted for 77.1 percent of the casino’s total gross revenues, almost the same percentage as a year ago.

Foxwoods posted its third-quarter report on the website of the Electronic Municipal Markets Access system.

Net income, or profit, for the quarter was $13.5 million, a 30 percent increase. EBITDA, which Foxwoods defines as net income minus certain nonrecurring expenses plus interest charges, federal and state taxes, depreciation, amortization and other noncash expenses, was $34.6 million, a 1.2 percent increase.

Casino managers and gaming analysts consider EBITDA a more reliable measure of performance than profit.

A breakdown of the quarter’s gaming revenues shows slots revenue of $113.7 million was down by half

a percentage point while table-games revenue of $55.8 million was up 15.5 percent. Poker revenue of $5.1 million was up 2 percent.

Among nongaming revenues, food-and-beverage totaled $18.4 million, a 1.7 percent decline, while hotel revenue of $17.7 million was up 1.9 percent. Retail, entertainment and other revenue increased 16.7 percent, thanks largely to higher ticket sales of $2.1 million.

Foxwoods, owned by the Mashantucket Pequot Tribe, is operating under a forbearance agreement with senior lenders. Reached in 2014, the agreement extends through Dec. 31.