April 11, 2017

Report: Gaming revenues slide at CT casinos

PHOTO | HBJ File
PHOTO | HBJ File

Mohegan Sun and Foxwoods Resort Casino saw their combined gaming revenue slide 7.5 percent between 2013 and 2015, but Connecticut still had the sixth largest tribal casino industry in the U.S., according to a report released Tuesday.

Combined Connecticut gaming revenue totaled $1.6 billion in 2015, down from $1.62 billion in 2014 and down still further from $1.73 billion in 2013, according to data compiled by Alan Meister, an economist with Nathan Associates Inc. for Casino City's 2017 Indian Gaming Industry Report.

In addition, non-gaming revenue rose to $259.6 million in 2015 at the two casinos, compared with $253 million in 2014 and $250.5 million in 2013.

Those totals were a fraction of the $30.5 billion national tribal gaming industry in 2015, supplemented by another $3.9 billion in non-gaming revenue during that year.

Overall, 19 of 28 states with casinos saw either a higher revenue growth or slower declines in 2015; Connecticut's gaming revenue declined at a slower rate in 2015, by 1.2 percent, compared with a decline of 6.4 percent in 2014, the report said. Despite the year-over-year improvement, Meister noted that Connecticut casinos have now seen nine consecutive years of revenue declines.

Outpacing Connecticut were tribal casinos in California, Oklahoma, Florida, Washington and Arizona.

Indian gaming revenues include slot machines and table games, while non-gaming revenue includes dining, entertainment and hotel revenue.

While all of the U.S. Indian casinos report varying amounts of public information, Meister said he also used confidential private data whenever it was available, and estimates using economic input-output analysis models that measure direct, indirect and induced impacts.

He attributed the declines to challenges in the state's economy and continuing gaming facility expansion in the Northeast, primarily at the MGM Springfield in Massachusetts and facilities in New York State.

The Connecticut tribes are currently pursuing authorization from the Legislature to build a third casino in East Windsor, but there is also a bill to open up the development process.

Comments

Type your comment here:

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

 
Today's Poll Does CT need a law to guarantee equal pay for women?<>
ADVERTISEMENTS
Most Popular on Facebook
Copyright 2017 New England Business Media