Foxwoods helps Connecticut economy
The Connecticut casino released June’s results that show that in the last 24 years the facility has contributed significantly to the state.
US.- The Mashantucket tribe revealed that June’s revenue helped hit the US$4 billion mark in slots revenue ever since the casino started contributing with the state economy in 1993, when the sharing agreement was signed.
Rodney Butler, Chairman of the Mashantucket Pequot Tribal Nation, said in a statement released last week that Foxwoods’ early success had unexpectedly opened a door to full-service gaming for tribes nationwide, which today, is an industry that generates nearly US$30 billion each year. “We are humbled by this as we reach yet another historic milestone – one as symbolic of our tribe’s pioneering vision as it is our unique and historic relationship with Connecticut. This $4 billion contribution has supported much-needed programs and services throughout Connecticut since 1993 and symbolises our commitment to the state we love and the region we’ve called home for hundreds of years,” said the Chairman.
During June, slot revenue reached US$36.3 million, 2.7 percent up when compared to the US$35.3 million registered in June 2016. The casino’s contribution to the local Special Revenue Fund was US$9.9 million, which helped achieve the US$4 billion mark ever since the signed agreement from 1993.
The facility has received over 340 million guests and almost US$100 million of that tourism revenue was reinvested in the state each year through contracts with local vendors, as well as it helped develop new businesses and grow more jobs. Foxwoods President and CEO Felix Rappaport added: “We take pride not only in providing an unmatched experience at our resort every day for our guests, but also in our roots, which includes being a member of the Connecticut community. We are honored to have an opportunity to invigorate our economy as a direct result of our work in making Foxwoods the premier resort casino in the Northeast and attracting people to the wonderful state of Connecticut.”
