After online casino gaming and sports betting were approved last year by the legislature, and introduced in mid-October in Connecticut, revenue for both verticals continued its upward trend in January, while slot revenue declined year-on-year.
Foxwoods Resort Casino outperformed its rival, taking in more than $11 million in gross online gaming revenue in January compared to Mohegan Sun’s $7.7 million. Online casino gaming revenue for the state reached $3.4 million.
Foxwoods' DraftKings Sportsbook
Foxwoods’ sports betting handle accounted for $73.7 million, resulting in $4.6 million in gross revenue. Mohegan Sun took in $62 million in wagers, which added up to $2.4 million in gross revenue. Sports betting revenue in January resulted in payments to the state of $1.1 million, up slightly from December’s $930,000 in payments, but below the $1.7 million paid in November.
Mohegan Sun's FanDuel Sportsbook
The Connecticut Lottery Corp. took in $13.7 million in online sports wagers, generating gross revenue of $436,508. It took in another $8.7 million in wagers at nine retail locations, generating $825,369.
The casinos and the lottery pay 13.75% of their gross sports betting revenue to the state. Foxwoods paid $635,480, Mohegan Sun paid $333,522 and the lottery paid $173,508.
Both Connecticut casinos also reported their January slot-machine revenues this week: Foxwoods kept $24 million after paying out prizes, which represents a 1.9% decline from January 2021, when it kept $24.5 million. Mohegan Sun won $32.8 million, down 12.7% from the $37.6 million it kept a year ago.
The casinos pay 25% of the slots revenue to the state. In January, Foxwoods paid $6 million and Mohegan Sun paid $8.2 million.
Foxwoods' 30th anniversary celebration event
This week, Foxwoods celebrated its 30th anniversary in an event that came with announcements of expansion and other initiatives set to draw in more customers to the property and increase its numbers.
The brand confirmed the addition of a new High Stakes Bingo Hall opening this spring, and the arrival of Great Wolf Lodge at Mashantucket and the opening of their indoor waterpark, which is expected to happen in 2024.
Original article: https://www.yogonet.com/international/news/2022/02/17/61444-connecticut-casinos-see–1357m-sports-betting-handle—187m-igaming-revenue-in-january
