Revenue from online sports betting and casino on the rise in Connecticut
Revenue from online sports betting and casino games on the rise in Connecticut. State officials remain optimistic more success is on the way.
Revenue has increased from online sports betting and casino games in Connecticut, to the tune of $1.7m since the middle of October, thanks to Governor Ned Lamont’s efforts to revise legislation.
Online casino gambling brought in $1.2m and sports betting raised about $513,000. The money will be deposited into the state’s general fund, according to Lamont.
The Governor had insisted on a broad revision of gambling legislation in Connecticut to capture sports betting revenue that other states were generating.
The state has seen a 20% bump in slot revenue due to its expanded gambling efforts.
For Lamont, this is a great start, and he said he is looking forward to years of success.
Rodney Butler, Tribal Chairman of the Mashantucket Pequots, also shared his enthusiasm about the early results.
“The engagement sets a promising benchmark and we expect the momentum to only build as more consumers get in on the action and the NFL season peaks over the coming months,” he said.
Lamont also said the state expects gambling revenue to generate $100m a year for the state over the next four or five years. At least at the start, revenue from expanded gambling will be a small share of the two-year, $46bn budget enacted in June by the Governor and General Assembly.
Casino executives have said they are optimistic that revenue will rise.
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