Connecticut gambling revenue drops following increased Massachusetts competition
Annual fiscal reports filed in late December show that revenue at Connecticut’s two casinos declined in fiscal 2019 amid new regional competition.
Mohegan Sun’s net revenues for the fiscal year were $992 million, down about 7% from the nearly $1.1 billion it took in the previous fiscal year, though revenue for parent company Mohegan Gaming & Entertainment increased, The Day reported.
Net revenues at Foxwoods Resort Casino were $787.8 million, down 5% from $828.9 million in fiscal 2018.
The annual fiscal reports, filed in late December, both attribute the decline to lower gaming revenues. The workforce at both casinos continues to shrink, according to the reports.
The casinos, owned by Connecticut’s two federally recognized tribes, face competition from the new MGM Springfield and Encore Boston Harbor casino, and from Rhode Island’s two casinos that launched sports betting a year ago.
Connecticut Gov. Ned Lamont tried to reach a wide-ranging gambling agreement with the tribes last year that would’ve included sports betting, but did not succeed.
Majority of Nevada voters would support indoor smoking ban at casinos, says new poll
Virginia: City council selects Cordish as preferred casino vendor for Petersburg project
Rivalry teams up with Basketball Forever on Gen Z-focused NBA media campaign
PopOK Gaming and Cactus Gaming announce new partnership
Penn releases Corporate Social Responsibility report for 2023
Italian Gaming Expo & Conference successfully wraps up inaugural edition in Rome
First day of BiS SiGMA Americas 2024 surprises with exhibition size, industry optimism
BiS SiGMA Americas opens in São Paulo and expects to welcome 10,000+ visitors, 230 exhibitors
