Connecticut recently released a comprehensive study revealing intriguing insights into the state’s gambling landscape. The research, conducted by Gemini Research and led by University of Massachusetts professor Rachel Volberg, indicates that only 10% of Connecticut residents engage in sports wagering or online games. However, betting trends revealed that the state faces familiar gambling addiction issues.

State Authorities Gained Valuable Data

The Connecticut Department of Mental Health and Addiction Services commissioned the study, investing $1.2 million to assess the socioeconomic impacts of legalized gambling, meeting a mandate from the General Assembly. The report, posted online without comment, is expected to serve as a valuable resource for policymakers and stakeholders in the gambling industry.

This study marks the first comprehensive gambling impact assessment since the legalization of sports betting and iGaming. Surprisingly, introducing regulated sports wagering had a relatively modest impact on wagering behaviors. Data indicates that 8.2% of residents were already betting on sports in 2009 when sports betting was illegal, emphasizing that the activity was prevalent even before legalization.

The legal availability of gambling is only partly responsible for the current rate of problem gambling, as people with gambling problems existed to some extent prior to legal provision.

Gemini Research study on Connecticut legalized gambling

According to the study, problem gambling rates in Connecticut, standing at 1.8%, align with the national average. The report notes that problem gamblers are individuals with impaired control over their gambling, leading to significant negative consequences for themselves or others. At-risk gamblers, comprising 4.9%, display symptoms similar to problem gamblers or engage in high-stakes gambling.

Observed Trends Can Aid Player Protection Efforts

Although constituting less than 2% of the population, problem gamblers are responsible for a staggering 51% of sports betting revenue and contribute significantly to overall legalized gambling revenue in the state. The report suggests that nearly 71% of all legal gambling revenue derives from the approximately 7% of residents categorized as problem or at-risk gamblers.

The study also sheds light on the effectiveness of Connecticut’s preventive measures and treatment programs for problem gambling. While treatment programs are deemed sufficient to meet demand, the report suggests additional outreach efforts to overcome detrimental factors like stigma and lack of awareness that deter individuals from seeking timely help.

Problem gambling treatment and prevention in Connecticut has been quite proactive and provides a good model for the rest of the country.

Gemini Research study on Connecticut legalized gambling

Connecticut’s gambling market has witnessed significant changes, with the saturation of regional casinos and the advent of online gambling. As the state navigates this evolving landscape, the study’s findings will likely play a crucial role in shaping future policies and initiatives related to legalized gambling and tackling emerging issues.

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Two prominent casinos in Connecticut, Foxwoods Resort Casino and Mohegan Sun, reported a dip in net revenues for the fiscal year ending September 30, 2023. 

Foxwoods Resort Casino Navigates Challenges in the Era of Online Gaming

Beyond the immediate revenue statistics, both Foxwoods and Mohegan Sun have been navigating the online gaming landscape in Connecticut. In their first full year of legal iGaming operations in the state, both brick-and-mortar casinos reported declines in play. 

Foxwoods Resort Casino, owned by the Mashantucket Pequot tribe, disclosed a net revenue of $636.8 million. Although a modest decrease of 0.5% from the previous year’s $640.2 million, the casino’s annual report revealed a 1.2% decline in gaming revenues. However, non-gaming revenues experienced a 2.4% increase, attributed to a rise in food and beverage sales.

Gaming accounted for 74.5% of Foxwoods’ gross revenue in fiscal 2023, down from 75.5% in the previous year. The casino’s payroll costs rose by $5.6 million, reflecting the addition of around 100 full-time equivalent employees. Foxwoods, which employed approximately 3,248 full- and part-time staff as of September 30, 2023, reported a substantial amount of indebtedness totaling $2.15 billion by the end of the fiscal year.

Mohegan Sun Adapts to Fiscal Challenges and Revenue Declines

On the other side, Mohegan Sun, in its annual report, disclosed a net revenue of $920.2 million, marking a 2.1% decrease from the previous year’s $940.3 million. The decrease was primarily attributed to declining gaming revenue from slot machines and table games. However, this decline was partially offset by higher revenues from food and beverage as well as entertainment.

Mohegan, which owns and manages several properties across the United States, Canada, and South Korea, reported a company-wide revenue of $1.67 billion in fiscal 2023, reflecting a 5.1% increase over the previous year’s $1.59 billion. Mohegan Sun contributed approximately 55% to the company’s total revenues.

According to Mohegan Tribal Gaming Authority‘s Q4 fiscal results, ending September 30, 2023, Mohegan Sun faced a challenging situation, experiencing a 5% decline in net revenue to $224 million, and witnessing a substantial drop in Adjusted EBITDA, plummeting 134% to $56 million.

At the same time, Mohegan proudly announced its inclusion in Newsweek’s America’s Greatest Workplaces for Diversity list for 2024, emphasizing its commitment to fostering a diverse and inclusive culture. 

The casino and hospitality giant views diversity as a critical component of business success and attributes its recognition to genuine respect for individuals from different backgrounds. 

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It seems that residents of Connecticut are enjoying the opportunity to gamble in their own state! The state smashed the records and achieved the highest revenue ever in October this year.

Smashed records

The Connecticut State Department for Consumer Protection released its monthly revenue report, and the results are stunning. The state’s online gambling operators earned $46.2 million in total revenue. Compared to September 2023, the increase is 5.2%, while compared to the same month last year, the increase is even bigger, 34.7%.

When it comes to online casino gaming, the total win was $31.1 million in October, which is 2.6% higher than the $30.3 million in wins recorded in September.

The total amount of placed bets is also higher than in September. In October, the total was $1.14 billion, and in September, the amount was $1.12 billion.

A huge percentage of revenue is achieved thanks to DraftKings, which remains the leader when it comes to online gambling in Connecticut. Its partnership with the Mashantucket Pequot tribe has proven greatly successful, and it brought $18.7 million in revenue. The total amount of money from the wagers placed thanks to this partnership was $688.3 million.

The second most successful is FanDuel, which partnered with Mohegan Sun. They earned $12.3 million in revenue together, and the value of placed bets was $458.8 million.

When it comes to sports betting, there was a huge increase as well. The total reported revenue achieved from wagers was $189.6 million in October, which was 15.5% more than in the same period last year. About 93.7%, or $177.1 million, was generated from online sportsbooks, and the remainder was gained from retail sportsbooks, which means that the players of Connecticut enjoy online betting way more than the retail casinos.

Online sportsbooks

When it comes to online sportsbooks, FanDuel and its partner, Mohegan, earned the most and became the market leader in sports betting with a revenue of $7.6 million.

The second was DraftKings and Mashantucket, with a revenue of $6.3 million.

Overall, the sportsbooks from Connecticut earned revenue of $16.3 million in October, which records a huge increase of 29.3% compared to the previous year. Online sports betting revenue brought in more than 15 million, which also hit a record in the state.

When it comes to state taxes, the revenue from sports betting generated $2.2 million, which is the biggest amount of money the state has earned since the legalization of sports betting in October 2021.

Source: Mulligan, Richard, “Connecticut posts record gambling figures in October 2023”, iGamingBusiness. November 21, 2023.

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The resorts in question, Mohegan Sun and Foxwoods, decided to opt out of indoor smoking during the COVID-19 pandemic, fearing that cigarette smoke could help the virus spread and infect more people. More than a year after the pandemic has been defeated, the resorts seem to show very little interest in bringing back smoking on their casino floors. Recently, even Kansas tried to push for an indoor smoking ban on casino floors.

Tribal Operators in Connecticut Continue to Say No to Smoking

The resort’s owners, the Mohegan Tribe and the Mashantucket Pequot Tribal Nation, are citing their community members’ health, but also point out that the lack of cigarette smoke has not really impacted their financial bottom lines.

The debate to suspend smoking on casino floors has been ranging from Rhode Islands to California, with states such as New Jersey arguing that casino smoking should indeed go, but casino operators, including the Casino Association of New Jersey, cautioning that chasing smokers away would depress financial performance and slow down post-pandemic recovery.

Connecticut, however, tells a different story as the two biggest resorts there are obviously not seeing the point in bringing cigar smoke back. Jason Guyot, Foxwoods’ president and chief executive, said that there was more economic sense in opposing smoke as a matter of fact. He said that before the pandemic, sanitary staff would retrieve the equivalent of 200 packs of cigarette butts a day.

Those are usually made of plastic, which is also causing environmental harm. Jeff Hamilton, the president and general manager at Mohegan Sun, shared a similar sentiment in which he outlined that the company has been enjoying positive feedback from guests and employees, with people welcoming the chance to be healthy and enjoy their favorite games.

The Virus Forces Casinos and Resorts to Prioritize Health

Of course, tribal operators were also more susceptible to the pandemic. Their communities suffered disproportionately from the COVID-19 virus, and that quickly made businesses established to serve those communities that the best option to protect members is to ensure that every precaution is taken – that meant snuffing out cigarette smoke on casino floors. Connecticut, though, is far from banning indoor smoking on casino floors.

Presently, nearly all states in the United States prohibit indoor smoking but make an exception for their gambling industry based on thin evidence. As Foxwoods and Mohegan Sun have shown, cigarettes are not necessary for an economic boom.

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Moving forward, Bragg games will be made available to FanDuel customers in Michigan and Connecticut, two states which have been fast-embracing online gaming. FanDuel has been keen to strengthen its own footprint in the sector, bringing in different licensed suppliers to help it achieve this.

Bragg makes for a perfect partner as the company is capable of delivering games from its own studios as well as injecting content from third-party suppliers. There will be numerous releases and content integrations in the coming months, Bragg said in a press statement.

Among the titles delivered to FanDuel are games by Atomic Slot Lab, Indigo Magic, and Spin Games, which are all part of Bragg’s family of proprietary development assets. However, Bragg will also deploy third-party content through its Powered by Bragg solution, which includes Bluberi, Incredible Technologies, Galaxy Gaming, King Show Games, Sega Sammy Creation, and more.

This content rollout allows FanDuel and Bragg to both benefit as they seek to consolidate their standing in the iGaming market in the United States.

Bragg CEO Yaniv Sherman welcomed the opportunity to see his company’s footprint in the North American market increase and for the company to be able to bring in excellent iGaming solutions for some of the leading operators in the region. He added:

As such, the rollout of our new proprietary and third-party exclusive games and technology with FanDuel in Michigan and Connecticut is a significant proof point of the success of our new US content roadmap.

Bragg CEO Yaniv Sherman

Bragg Is Committed to Working with the Best iGaming Brands

Sherman welcomed the chance to be building further on the relationship with FanDuel and deliver even more premium content to help grow engagement and retention with customers. Bragg has been one of the most rapidly evolving and expanding studios with the supplier launching also recently launching a global distribution alliance with 888 Holdings.

The supplier similarly worked out a new iGaming rollout for its products in Pennsylvania where the company teamed up with Rush Street Interactive’s BetRivers brand to further consolidate its presence in the local market.

Bragg has been similarly expanding in Europe, where the company has secured a number of important deals in Switzerland and Italy, all the while maintaining strong financial performance in the first quarter of the year.

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The provider of a leading business-to-business turnkey platform, sportsbook and casino, EveryMatrix, continues its expansion in the US after announcing it secured another license. The company revealed Thursday it secured a license in Connecticut, expanding further its foothold in the country.

Securing a license in Connecticut marks a major step for EveryMatrix, considering that the state offers online sports betting, as well as online casino gambling. It was back in 2021 when Connecticut introduced legal forms of the two activities and since then, it has become a major market for iGaming and sports betting operators.

The recent license is expected to provide a boost to the company’s growth. This is an important step for EveryMatrix as it will clear the path and enable the provider to join forces and supply its content and services to partners in the state.

The Leading Provider Continues US Expansion

Erik Nyman, EveryMatrix’s president Americas, explained that the company remains committed to growing further its presence in the US. He said that states offering both sports betting and iGaming are of particular interest to EveryMatrix, considering that the company provides leading solutions for the two verticals.

“EveryMatrix has focused on US states that have regulated both iGaming and sportsbook as we are leading supplier in both verticals. With our license approval in Connecticut, we are one step closer to securing access to all the significant regulated states in the US and we are thrilled to go live shortly.“

Erik Nyman, president Americas at EveryMatrix

Nyman added that securing a license in Connecticut represents a major step for the company as it grants it access to a major US market that offers both iGaming and online sports betting. He pointed out that EveryMatrix is excited and looking forward to introducing its services to partners in the state soon. In conclusion, Nyman outlined that the license in Connecticut complements the company’s expansion strategy and enables it to introduce its leading platform and content to licensed gambling operators in the state.

“This is another significant milestone for the business and widens our reach to distribute our world-class content, platform and services to licensed operators in the US market,“

added Nyman

Besides Connecticut, EveryMatrix is currently in the process of expanding its services to another state, Pennsylvania. With that in mind, previously, the company has entered other strategic jurisdictions such as the markets in Michigan, New Jersey and West Virginia. EveryMatrix also has a presence in Ontario, Canada.

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