Sagging revenue could be a sign of saturation in the gambling industry in the Northeast.

In 2017, the casinos provided almost $271 million in slot machine revenue. After reaching a peak in 2007, the annual return from slot machines has been steadily declining.

Since 1993, Foxwoods Resort and Mohegan Sun casinos have contributed nearly $7.5 billion to the state’s general fund under an exclusive agreement that allows casino gambling in return for 25 percent of the revenue from slot machines. For example, when a casino in Queens, N.Y., expanded it increased the size of the market rather than draw many gamblers from a Yonkers, N.Y., casino, he said. If Encore “ramps up the way it’s supposed to,” it will draw more gamblers from Massachusetts, which could limit the damage to Connecticut’s casinos, Foley said. Keith Foley, an analyst at Moody’s, said when MGM Springfield opened, it didn’t undercut Mohegan Sun “that much.” Encore, which could be “more of a resort,” may present less of a risk to competitors in the area, he said. There’s no question about that,” said Michael Pollock, managing director of Spectrum Gaming Group in Horsham, Pa., a consultant on the economics, regulation and policy of gambling. “Many customers from New England will try out the new property. The region’s burgeoning casino and resort industry, including Plainridge Park Casino in Plainville, Mass., Twin River Casino in Lincoln, R.I., MGM Springfield and the venerable Mohegan Sun and Foxwoods Resort Casino, expect an impact, since the Boston area supplies thousands of gamblers for the New England market. More than 8 million visitors are expected annually. A new player is joining the already crowded New England gambling market, creating new competition for Mohegan Sun and Foxwoods Resort Casino.Įncore Boston Harbor, a $2.6 billion gambling, hotel and entertainment complex owned by Wynn Resorts opens Sunday in Everett, Mass., 10 months after MGM Springfield launched and as Connecticut’s two tribal-owned casinos look to build the state’s third gambling site to stave off the new threats from Massachusetts.

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