November 13, 2018

Report: CT casinos generate $3.7B economic impact in '16

PHOTO | Joe Cooper
PHOTO | Joe Cooper
Foxwoods' Grand Pequot Tower.

A new report found Foxwoods Resort Casino and Mohegan Sun in 2016 generated more than $3.7 billion in economic activity through jobs, wages, taxes and other measures.

The "2018 Indian Gaming Industry Report" by Meister Economic Consulting, on behalf of the American Gaming Association (AGA), said Connecticut's tribe-owned casinos also supported 24,245 full-time jobs that generated more than $1.2 billion in income for workers.

AGA said the fiscal impact in tax revenue and revenue-share payments from Foxwoods and Mohegan reached almost $769 million in 2016.

Nationwide, tribal casinos generated $105 billion in sales in 2016, including 676,000 full-time jobs, $36 billion in wages to employees and $15 billion in taxes and revenue share payments to government entities, AGA said.

The report says tribal gaming accounts for 45 percent of all U.S. gaming revenue.

Meister relied on tribal gaming data including gaming revenue and non-gaming revenue such as food, beverages, lodging, retail and entertainment. Other measures included regulatory payments and local and state revenue sharing. Data from 2016 is the most current year available.

The report was released weeks after Foxwoods and Mohegan reported their slot revenues declined for the third consecutive month in September as they combat competition from MGM Springfield's new gaming and entertainment facility.

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