Slot revenue down in Connecticut
Revenues at the two casinos in the state were down slightly in December 2018.
US.- Mohegan Sun and Foxwoods Resort Casino reported this week their revenue results corresponding to December 2018, a month in which they both suffered a slight decrease in slot revenues.
Mohegan Gaming & Entertainment (MGE) detailed that it totalled over US$49.7 million in slot revenue in December 2018, which is less than 1% when compared to the US$50 million recorded in the same month a previous year. The company provides 25% of its slot profits to the state of Connecticut, and it sent over US$12.4 million to the general fund in December.
Foxwoods also reported a revenue fall as it recorded US$37 million in slot revenue in December, which is 5.2% less from the US$39 million it totalled in December 2017. The company informed that it contributed US$9.6 million to the state last month.
Earlier this month, members of the southeastern Connecticut’s legislative delegation along with state Senator Cathy Osten revealed that they submitted a bill that aims to allow the tribes to provide sports betting services online and in-person at the two casinos.
The bill that would authorise the tribes to offer sports betting services would also allow the Connecticut Lottery Corp to operate online keno within the state “pursuant to agreements” with the tribes.
Osten added that the proposed bill is likely to change throughout the whole legislative process and could also authorize sports betting at other locations, which would also lead to more conversations with the tribes. The Mashantucket Pequot and Mohegan tribes have existing agreements with the state that grants them exclusive right to provide sports betting.
