Around New England

Connecticut Casinos Feeling Squeezed As Revenue Declines

January 3, 2020

Revenue for the two casinos in Connecticut decreased this past fiscal year.

Mohegan Sun earned $992 million in revenue, about a 7 percent dip from the $1.1 billion it took in the prior fiscal year. Additionally, Foxwood Resort Casino had a net revenue of $787.8 million, about a 5 percent decline from the $828.9 million in fiscal year 2018, according to The Day, of New London, Connecticut.

The fiscal year 2019 ended September 30. Reports were filed at the end of December.

In recent years, the two casinos have faced increased competition from throughout New England. MGM Springfield opened in August 2018; Encore Boston Harbor casino in Everett opened up in June 2019. Additionally, casinos in Rhode Island have legalized sports betting, as WGBH points out.

Last year, then-Connecticut Governor Ned Lamont could not come to terms with the two casinos in his state on a deal which would include legalized sports betting, according to the Daily Hampshire Gazette.

Foxwoods is owned by the Mashantucket Pequot Tribal Nation and is located on the tribe’s reservation in Ledyard, Connecticut. Mohegan Sun is owned by the Mohegan Tribal Gaming Authority and is located on the tribe’s reservation in Uncasville, Connecticut.

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