SPRINGFIELD, Mass. (WWLP) – As western Massachusetts prepares for a potential casino, Connecticut’s two tribal-owned casinos are reporting a steady decline in revenue, and gambling profits in neighboring Rhode Island are also expected to decline in the coming years.
Connecticut’s Mohegan Sun has reported declining revenue in each of the last six years, and nearby Foxwoods Resort Casino, has faced declines in each of the last eight years
Rhode Island’s gambling revenue is expected to decrease by roughly $420 million over a five-year period as a direct effect of gambling expansions here in Massachusetts.
Some people that 22News spoke with in Springfield Tuesday morning said that they are not concerned with the timing of Springfield’s potential casino.
“Better late than never,” Sam Wright of Springfield said. “It could be a big help for the taxes.”
Others, however said that an expanding casino market in neighboring states could mean too much competition.
“It’s hard, because they’ve got casinos going up in New York, they’ve got casinos in Pennsylvania, I mean casinos are a lot of places, so it’s hard to say,” David Hodge of Springfield said. “I’m not going to say great because it’s saturated.”
Last month, Mohegan Sun brought in more than $43 million in revenue from slot machines, and Foxwoods brought in about $37 million from slots. Those totals are down about 8% from this time last year.