NEW LONDON, Conn. — Foxwoods Resort Casino and Mohegan Sun generated $2.1 billion in revenues in the 2010 calendar year, a decline of about 4 percent over the $2.2 billion they generated the previous year, according to a new report.
The findings are contained in the 10th edition of the Indian Gaming Industry Report, which was authored by Alan Meister, an economist with Nathan Associates Inc.
For Connecticut’s casinos, 2010 — the most recent year for which data are available — marked the third straight year of decline. Foxwoods’ and Mohegan Sun’s combined revenues fell by 7 percent in 2009 and by 5 percent in 2008, the report says.
“While the decrease in 2010 is due in part to the downturn in the economy, it is also the result of increased competition in the Northeastern U.S. gaming market, namely commercial casinos and racinos in Pennsylvania, Indian casinos and racinos in New York, commercial casinos in Atlantic City, and racinos in Maine and Rhode Island,” according to the report.
The decline runs slightly counter to the overall picture the report paints of Indian gaming in the United States, which in 2010 generated $267 billion in gaming revenue and $3.2 billion in nongaming revenue. The total was up more than 1 percent after declining for the first time in 2009.
The report cites several future developments that could affect the Connecticut casinos, including Mohegan Sun’s long-standing plan to add a new hotel and Foxwoods’ plans, recently disclosed, to develop a mall linking Foxwoods Resort Casino and MGM Grand at Foxwoods as well as to build a restaurant, convenience store and gas station near the casino.
Competition from casinos that have been authorized but not yet licensed in Massachusetts is at least a few years away, the report says.
Indian gaming’s 2010 performance outstripped that of commercial casinos, which reported a 0.1 percent decline, according to the report.
In 2010, Indian gaming generated about 44 percent of all U.S. casino gaming revenue. Commercial casinos accounted for 45 percent and racinos 11 percent.
“However,” the report says, “Indian gaming continued to gain ground and is poised to overtake the commercial casino segment in the near future.”
As the report points out, Indian gaming revenues continue to be fragmented, with 239 tribes operating 448 gaming facilities in 28 states. However, California tribes generated more than 25 percent of the total revenue. California and Oklahoma, the top two states, generated a combined 38 percent.
The top five states, which also include Connecticut, Florida and Washington, accounted for 61 percent of the Indian gaming revenue in 2010.
According to the report, the Great Recession that struck at the end of 2007 slowed the growth of Indian gaming considerably, shrinking consumers’ disposable incomes and causing a credit crunch that limited tribes’ ability to renovate and expand their facilities.
But, the report says, Indian gaming’s slowdown had begun as early as 2005. Possible explanations include the “maturation” of Indian gaming as a whole and, in some markets, saturation. State and federal policies aimed at regulating Indian gaming have also had “a dampening effect” on the industry, the report says.
(c) 2012 The Day (New London, Conn.)
Distributed by MCT Information Services
Duh, there’s only so many dollar bills and problem gamblers to go around you know?
There are more than enough ‘problem gamblers’ to go around for all casinos……
Mind your business…….
I dont care what people do with their own money or where they go to spend it. I think the point that Burton1 is trying to make is that there is a saturation point for casinos like there is for any type of business be it restaurants or electronic stores. Hanging high hopes fo economic revenue and development on these new casino projects works somewhat, but isnt always the golden goose that people think it is.
I don’t understand some folks perspectives on a number of topics, this being one of them. Why assume that all the casino patrons are broke and on government aid?
Really tell that to Bangor which is building a new arena. That has seen a successful Waterfront Concert series, Folk Festival, Kahhbang Music and Film Festival. Tell that to the Downtown which is finally starting to grow. Ask the more than 500+ folks who work there how much they love their jobs and why they would rather work their than collect unemployment and welfare. I still haven’t in 10 years seen where the Dennis Bailey and the Anti-Casino crowd can come up with an alternative plan to jobs. They also are getting debunked on their lies even this week not only by this paper , but by other business groups who have seen the success that Hollywood Casino and Penn National has been for Bangor and to Maine.
Hollywood Slots has had its benefits. I don’t think we can over estimate those benefits. I think we must consider that right now it is the only operation of its kind in the area(in the State) and that nearly 100% of the available potential gambling customer base is going to them. That will change when Oxford opens up. Will Revenue go up at Hollywood Slots or go down? What percentage of business will be taken away from Hollywood Slots and go to Western Maine?
A new arena is being built in Bangor. I think that is wonderful. That arena will host things like the RV Show, the Shrine Circus, indoor concerts and cultural events and tournament basketball. Those things currently happen in the old civic center. Have those events been the driving force that bring people into Bangor who then decide to cross the street and gamble? Or has it been the casino that brings people into town to gamble who then might decide to cross the street and check out the flower show? Hollywood Slots is not building that arena. They are not the owners of it. Are they contributing any of their money to building the arena? I do think that having a convenient hotel across the street does make the arena and its potential uses more attractive to groups and conferences. So Hollywood Slots has been a benefit that way.
The Waterfront Concerts are the same thing. Do the events being held attract people into Bangor who might stay to gamble or is it the gambling that is the bigger draw over the concerts? Are the amount of people staying over in Bangor for these events that much larger now that Hollywood Slots is open? Or are roughly the same amount of people staying over with Hollywood Slots taking a percentage of already existing customers away from other hotels?
500 people being able to work rather then stay home and collect is a positive thing.
Hollywood Slots has benefited the area. But if more and more casinos come into operation then those benefits will slacken. They will slacken a bit when Oxford becomes operational.
Casinos can and do provide economic benefits but they are not the magic pill that many people think them to be.
Thats why they establish a Casino in every State!
It really ain’t about tourism!
The more money that customers save in gas and hotel rooms the more money that they can fleece!
Just like the Welfare Bums have fleeced us for many years. Give it a rest. The Maine people have spoken. Maine has 2 casinos and will have more because the Legislature is taking up this and other gambling issues now. Funny Democrats in Augusta were against Casinos but now they know their welfare gravy train is going away they are looking at a way to keep that train on its tracks. So you have Democrats helping Republicans crafting a gambling policy that allows more Casinos but other forms of gambling as well including online gambling. Maine will get its piece of the pie and these Casinos will do just fine can’t wait to go to Bangor and Oxford for the table games and slots.
I hope the (soon) next article reads, “Maine casinos see increased competition from elsewhere”…
BDN article sometime in 2014: Hollywood Casino Bangor generated $51.1 million in revenues in the 2014 calendar year, a decline of about 15 percent over the $71.2 billion they generated the previous year, according to a new report. For the Bangor Casino, 2014 — the most recent year for which data are available — marked the 2nd straight year of decline. Bangor’s revenue fell by 7 percent in 2013, the report says. The decrease in 2014 is due to the increased competition in the Northeastern U.S. gaming market, namely a commercial casino in Southern Maine and Indian casinos racinos in Massachusetts according to the report.
Just wait until next week when the cards start flying. Hollywood Slot-ino will show those rubes in Connecticut how to fleece a local economy.
I’m glad that I don’t have to personally know the posters on this thread. With the general negative attitudes, I think it’s safe to assume that they’re all Christians. Lock it up. ‘The Jesus’ wouldn’t be judging establishments like this…..
These folks who are posting are very Liberal most of which are Anti-Gambling, Anti-Business, Pro-Welfare crowd, Pro Nanny State. They know if Maine gets more Casinos and Gambling gets in , along with Fireworks now that people will go spend their money and have fun. Instead of having all that money going to that crowd so those on Welfare can go blow it on foolishness, cigarettes, beer , lottery tickets etc.. Which those on Welfare have admitted on here. Maine will be better off with More Casinos, More Gambling and other forms of entertainment. It will bring in tourists, more jobs being created, businesses will expand because of more $$$$ coming into Bangor, Oxford or any other town in Maine that has casinos.
Don’t get it twisted, the GOP crowd is notorious for being negative. It’s proven time and time again. Both sides need to focus on growing as a whole. The divided structure of our government is bringing us down as a unit. It’s very sad, as well, frustrating. Please, don’t place blame on one party. It’s both that are the issue.
Actually Deb Plowman, Kevin Raye, Linda Valentino are getting the process of more Casinos and other types of Gambling here in Maine quicker. That is why they are crafting gambling policy now in Augusta to finally put this issue to rest. With letting those who want to invest hundreds of millions of dollars by building each Casino and getting the revenue and jobs into Maine’s economy going. Hopefully we will get something soon the process was going along very well as of late. That we might have something in place by summer with a possible bidding process to allow more Casinos and other gambling halls in the future. The bill as of now could allow other types of Gambling, possibly even online gambling too.
Only so much disability and welfare money to go around. eh
And when there is a new WYNN Casino and Resort in Massachusetts(probably near Gillette Stadium) the story will have a new chapter, except it will be Maine Casinos that are losing revenue share.
Governor LePage was right when he didnt speak in favor of Casino development in Maine.