Connecticut’s two tribal casinos posted slots revenue declines in February as state legislators pondered a proposal to expand gaming in the state.
Mohegan Sun’s slots revenue fell 4.1% to $42.1m as handle fell 3% to $508.2m. Foxwoods Resort Casino’s slots revenue fell nearly 20% to $31.6m as handle fell 18% to $382.9m. The state’s share of this revenue fell 10% to $18.7m. Foxwoods CEO Felix Rappaport said the slot decline was “due almost exclusively to weather,” referencing the record cold and snow that blanketed the state last month.
There’s no fighting Mother Nature but both tribes are spoiling for a fight with MGM Resorts’ in-development $800m casino just across the border in Springfield, Massachusetts. At a General Assembly committee hearing on Tuesday, representatives of both tribes warned that the MGM casino would draw away gamblers from Connecticut, potentially resulting in the loss of up to 18k casino-related jobs. A marketing study prepared for the MGM casino, which is set to open in 2017, claimed nearly 30% of its clients would come from Connecticut.
Mohegan Tribe chairman Kevin Brown said the threat from the MGM casino was “serious,” which is why the two tribes with “a long history of fierce competition” had decided to join forces.