Feb. 15—With its slot-machine revenues falling well short of pre-pandemic levels, Foxwoods Resort Casino, which marked its 29th anniversary Monday, is digging deep to meet the requirements of its revenue-sharing agreement with the state. The agreement calls for Foxwoods to forward to the state 25% of its slots "win" — the amount of wagers it keeps after paying out prizes — provided its annual .
Ark Restaurants Corp. (NASDAQ:ARKR) today reported financial results for the first quarter ended January 2, 2021.
Financial Results
Total revenues for the 13-weeks ended January 2, 2021 were $20,299,000 versus $43,514,000 for the 13 weeks ended December 28, 2019. The 13 weeks ended January 2, 2021 includes revenues of $478,000, which represents four weeks of sales related to
Blue Moon Fish Company, which was acquired on December 1, 2020 (see below).
As a result of state and local governments lifting mandatory shut-down requirements from May through August 2020, the Company had reopened all of its properties, with the exception of
Thunder Grill in Washington, D.C. (see below), at varying levels of limited capacity as allowed by federal, state and local governments. However, indoor dining in New York City was again shut down on December 14, 2020 through February 12, 2021 at which point it was allowed at 25% maximum capacity. In Washington, DC indoor dining capacity was reduced f
With its slot-machine revenues falling well short of pre-pandemic levels, Foxwoods Resort Casino, which marked its 29th anniversary Monday, is digging deep to meet the requirements of its revenue-sharing agreement with the state.
The agreement calls for Foxwoods to forward to the state 25% of its slots “win” the amount of wagers it keeps after paying out prizes provided its annual contribution totals at least $80 million. If the casino’s contributions aren’t on pace to reach the minimum contribution, the rate increases to 30%.
Foxwoods forwarded $8 million to the state last month to meet a $48 million “minimum contribution” threshold for the first seven months of the fiscal year that began July 1. It met that threshold by adding nearly $1.9 million to 25% of its January slots win, which was $24,453,586. The win was down nearly 25% over January 2020.
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Mystic At R.A. Georgetti & Co., where they have been selling collectibles, fine gifts and jewelry since 1975, they had never made a sales pitch on a park bench outdoors.
But like so much else, the pandemic changed the way they do business.
When Connecticut’s governor forced retail venues to close their doors to indoor shoppers for two months last spring, Georgetti’s quickly beefed up its website for online retail, adding several thousand more items to the thousands already there. Purchased merchandise is sent by mail or may be picked up curbside. And, if a customer wants to see and touch an item before committing to a sale but is reluctant to come inside even now that shops have reopened, a Georgetti’s salesperson will bring it outdoors.
Connecticut Politics Week in Review: Gov. Ned Lamont pitches his ‘Connecticut Comeback’ budget with no major tax hikes Russell Blair, Hartford Courant
Gov. Ned Lamont’s new two-year budget expects an infusion of federal aid to avoid tax increases or boosts in spending in the midst of a pandemic that, while trying for the thousands of Connecticut residents who have lost their jobs and those who have been impacted by the coronavirus, has not been as bad of news for the state’s finances as once thought. Rather than a multibillion-dollar deficit, Connecticut is projected to end the current fiscal year on June 30 with a surplus due to surging tax revenue tied to Wall Street gains. To close gaps in the next two years, Lamont is eyeing more federal aid or potentially dipping into the state’s $3 billion-plus rainy day fund.