Connecticut expected to lose gaming revenue

The casinos in the state are expecting a loss of revenue once MGM Springfield opens its doors.

US.- The gaming industry in Connecticut is preparing to lose a big portion of revenue as MGM Springfield is set to open on Friday in Massachusetts. More than 10 years after the state’s peak performance, the state expects less than half in revenue in 2022.

Gaming analyst Howard Stutz said that the idea of Massachusetts legalising casinos is reclaiming revenue that was directed to other states. “And that’s what happens in other states. They see their residents going across the state border to gamble, and they think to themselves, ‘Why aren’t those tax dollars staying in Massachusetts?” said Stutz, as reported by New England Public Radio.

The analyst believes that revenue will continue decreasing once other major resorts open outside cities like Boston and Yonkers, where MGM is planning to expand its operations to offer sports betting as well.