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The new MGM casino in Springfield, Massachusetts, is the primary reason for the fiscal first-half 6.3 percent EBITDA decline, Foxwoods said.

EBITDA fell 21.6 percent in the second quarter as net revenues fell 6.9 percent and margins fell 3 points to 15.7 percent. This was partially offset by a 3.6 percent decline in operating costs.

Table drop fell 11.1 percent to $241.186 million in the quarter and slot handle 7.2 percent to $1.280 billion. Table hold rose 0.66 points to 18.3 percent.

RevPAR fell 5 percent in the quarter to $85. Occupancy rate was 90.5 percent, down 0.9 points.

SECOND QUARTER HIGHLIGHTS:

Net revenue: $189.900 million vs. $203.924 million
EBITDA: $29.858 million vs. $38.086 million

Balance sheet: Cash: $52.060 million vs. $45.477 million
Long-term debt: $1.882 billion vs. $1.870 billion

YEAR TO DATE HIGHLIGHTS:

Net revenue: $394.219 million vs. $409.764 million
EBITDA: $62.101 million vs. $66.269 million

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