Revenue up for Connecticut casinos while sports betting numbers fall
The state’s casinos contribute 25% of their winnings to the state fund.
Slot revenue saw a year-on-year boost in February at Connecticut’s casinos according to data releases by the state’s gaming authority.
Specifically, Mohegan Sun reported $40.4m in slot revenue for the second month of the year, a 23% year-on-year increase over 2021’s $32.7m. Meanwhile, Foxwoods Resort Casino saw similar growth, citing a 24% year-on-year boost. This increase comes as a slot revenue of $28m, compared to last year’s $22.5m.
From this reported revenue, Connecticut’s casinos are set to pay 25% of their earnings toward the state fund. Mohegan Sun and Foxwoods paid $10.1m and $7.1m in retail taxes respectively.
Moreover, these properties are required to pay 18% of their online earnings toward the state. Consequently, Foxwoods paid a further $1.9m to the state and Mohegan Sun paid $1.2m.
Sports betting in the Constitution State seemingly had a less successful month, with the region’s sportsbooks – Foxwoods, Mohegan Sun and the Connecticut Lottery Crop – paying a combined $500,000 to the state. This number reflects 13.75% of their total sports betting revenue.
Connecticut initially launched its online sports betting market in September of 2021 and has seen a great deal of success since. Indeed, with March Madness soon to begin, it is likely that Connecticut, and a number of states across the country, will experience their biggest month in sports betting to date.
Connecticut is one of five states with an operational and regulated iGaming market. Recently, Inspired launched its online gaming offering in the region, allowing players to access the Big Spin Bonus, Bullion Bars and Gold Cash Free Spin games.
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