Connecticut tribal casino revenues see significant drops in fiscal 2020 Foxwoods obtained a $54.4 million federal grant under the CARES Act. Mohegan Sun reopened its poker room with six of its 33 tables last week. United States | 01/08/2021 Foxwoods Resort Casino s net revenues amounted to $539.2 million during the fiscal year that ended Sept. 30, 2020, a 31.6% decline. Mohegan Sun’s net revenues fell to $715.7 million in fiscal 2020, down 27.9%. C
onnecticut’s two casinos reported significant drops in revenue in 2020 because of the COVID-19 pandemic and restrictions placed on their properties.
Foxwoods Resort Casino reported net revenues of $539.2 million during the fiscal year that ended Sept. 30, 2020,
a 31.6% decline from the $787.8 million it tallied the previous fiscal year, as reported by
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Connecticut Casino Results Take a Tumble in FY 2020
Tuesday April 13, 2021 12:27PM
Connecticut Casino Results Take a Tumble in FY 2020 By
Connecticut s casino receipts have dipped in the FY 2020 due to pandemic casino closures
The two largest tribal operators, Mashantucket Pequot and Mohegan Gaming & Entertainment, saw around 30% decline in net revenue in 2020
Connecticut is endorsing sports betting as an alternative source of revenue
Casino net and gross receipts in Connecticut have fallen for two of the state’s biggest operators with Mohegan Gaming and Mashantucket Pequot reporting worse fiscal results YOY.
Casino Receipts Fall in Connecticut in FY 2020
Connecticut has reported a substantial declined year-over-year from its casino receipts for fiscal 2019/2020 that ended on September 30, 2020. The state saw most of its major casinos report weaker results than a year before, with
Hartford In a recorded State of the State address, Gov. Ned Lamont expressed support Wednesday for the legalization of sports betting and online gaming, saying he looks forward to working with the state’s two casino-owning tribes “to modernize gaming in our state.”
After the online release of the speech, delivered on the opening day of the 2021 legislative session, Lamont’s spokesman indicated the governor had nothing more to say about his stance on gaming.
“The administration has held multiple discussions with both tribes and those discussions will continue,” Max Reiss, the spokesman, wrote in an email. “The conversations have been constructive and respectful. The administration has nothing further to add .
COVID-19’s impact cost the southeastern Connecticut casinos dearly during the fiscal year that ended Sept. 30, 2020, annual reports posted late last month show. Foxwoods Resort Casino reported net revenues of $539.2 million for the period, a 31.6% decline from the $787.8 million it tallied the previous fiscal year. Mohegan Sun’s net revenues fell to $715.7 million in fiscal 2020, down 27.9% from $992 million. Mohegan Gaming & Entertainment, the corporate entity that operates Mohegan Sun and the Mohegan Tribe’s other gaming enterprises around the world, had total net revenues of $1.11 billion, a decrease of 16.7%, according to the MGE annual report filed last week with the U.S. Securities and Exchange Commission.