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December 16, 2020

Pandemic has taken a $75M bite out of CT slot receipts

HBJ Photo | Joe Cooper The Grand Pequot tower at Foxwoods Resorts Casino.
By Matt Pilon

Slot machine revenue deposited into state coffers has fallen by one-third during the first 11 months of 2020, according to newly updated data.

Foxwoods and Mohegan Sun reported this week that their year-over-year November slot revenues were down 40% and 37.7%, respectively, with combined revenue falling by more than $32 million from a year ago. Those declines came amid steep drops in the amount of money bettors wagered on the machines during the recent month, known as “the handle.”

Under their revenue sharing deal with Connecticut, the tribes that operate the two casinos pay 25% of their slot revenue to the state. For November, their combined contributions totaled $13.6 million, down from $21 million during the same month last year.

The two casinos were closed from mid-March through May due to COVID-19, which cost them and the state tens of millions of dollars.

From January through November, the state’s slot receipts have totaled $150.9 million, which is down $75.3 million, or 33.3%, from $226.2 million for the same period in 2019, according to state data.
 

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