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Out-Of-State Gambling Options To Squeeze Connecticut's Casinos
Connecticut had a sure thing when its casinos opened in the 1990s with the nearest competition hours away, but with nearby states positioning themselves to compete, the local venues and the state treasury are bracing for continued losses.
"There's always a Newtonian reaction when one state legalizes gambling. The neighboring state comes up with an opposite but not equal reaction," said Joe Weinert, vice president of Spectrum Gaming Group, a New Jersey-based gaming research firm.
"If you look at what's happening in markets around the country, states are scrambling to either legalize or expand gaming, and as states do that, many established markets [like Connecticut] feel the impact from expansion."
In the Northeast, that "scrambling" includes Massachusetts voting last year to allow casinos and Rhode Island recently clearing the way for a November vote on whether to expand its gambling. It might take a few years, but the impact will be felt on the gaming floors at the Mohegan Sun and Foxwoods casinos in southeastern Connecticut, and also by taxpayers because the state gets a quarter for every dollar that the casinos make on slot machines.
By BRIAN DOWLING,
The Hartford Courant
Connecticut had a sure thing when its casinos opened in the 1990s with the nearest competition hours away, but with nearby states positioning themselves to compete, the local venues and the state treasury are bracing for continued losses.
"There's always a Newtonian reaction when one state legalizes gambling. The neighboring state comes up with an opposite but not equal reaction," said Joe Weinert, vice president of Spectrum Gaming Group, a New Jersey-based gaming research firm.
"If you look at what's happening in markets around the country, states are scrambling to either legalize or expand gaming, and as states do that, many established markets [like Connecticut] feel the impact from expansion."
In the Northeast, that "scrambling" includes Massachusetts voting last year to allow casinos and Rhode Island recently clearing the way for a November vote on whether to expand its gambling. It might take a few years, but the impact will be felt on the gaming floors at the Mohegan Sun and Foxwoods casinos in southeastern Connecticut, and also by taxpayers because the state gets a quarter for every dollar that the casinos make on slot machines.
By BRIAN DOWLING,
The Hartford Courant
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