Editorial: Connecticut too dependent on gaming

Monday, January 21, 2008  

"So should Connecticut be worried because slot revenues took a major hit at the two casinos in December, and have been falling less significantly in recent months?

The December loss to the state treasury year-over-year was $6.7 million. Foxwoods Resort Casino paid the state $16.7 million for December 2006 and just $13.9 million for December 2007. Likewise, Mohegan Sun's contribution fell from $20.3 million in December 2006 to $16.5 million this past December.

The decrease could have funded a lot of snowplows or school aid or tax relief. Instead, it evaporated.

And the timing couldn't be worse. The two casinos' announcements that a slowing economy, lousy weather and a Foxwoods promotion that went awry led to the downturn came almost the same day as Gov. M. Jodi Rell's pronouncement that she will hold the line on taxes and the state's budget cap for fear of a looming recession. Things are tight all around.

So has the state become too dependent on gaming? Is the cash cow drying up?

The casinos and their owners, the Mashantucket Pequot tribe at Foxwoods and the Mohegans at Mohegan Sun, say no."

Get the Story:
Editorial: They Don't Always Pay Out (The New London Day 1/20)
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