The Mashantucket Pequot Tribal Nation owns and operates the Foxwoods Resort Casino in Mashantucket, Connecticut. Photo: Foxwoods

Mashantucket Pequot Tribal Nation hits milestone on gaming revenues

The Mashantucket Pequot Tribal Nation has hit a major gaming milestone.

Under an agreement signed in 1993, the tribe shares 25 percent of slot machine revenues with the state of Connecticut. As of July, the amount has reached $4 billion.

“We are humbled by this as we reach yet another historic milestone - one as symbolic of our tribe’s pioneering vision as it is our unique and historic relationship with Connecticut,” Chairman Rodney Butler said in a press release. “This $4 billion contribution has supported much-needed programs and services throughout Connecticut since 1993 and symbolizes our commitment to the state we love and the region we’ve called home for hundreds of years.”

The announcement came as the tribe said the Foxwoods Resort Casino took in $36.3 million in slot revenues for the month of June. That represents a 2.7 percent increase from the same month last year.

On Friday, the Mohegan Tribe reported $49.2 million in slot revenues at the Mohegan Sun. That's a 7.6 percent from the same month last year.

Together, the tribes have won state approval to open a new casino in the city of East Windsor. Their goal is to compete with a $950 million commercial facility just across the border in Springfield.

The tribes are pursuing their project outside of the framework of the Indian Gaming Regulatory Act so federal approval isn't needed. The site in East Windsor won't be taken into trust either.

Read More on the Story:
Tribal nation has contributed $4 bln to cash-strapped Connecticut since 1993 (Reuters 7/16)
Foxwoods June slots revenue climbs 2.7% (The Norwich Bulletin 7/16)
Foxwoods posts 2.7% slots revenue growth in June (CalvinAyre.Com 7/17)
Sure bets: Four new casinos under construction in neighboring states (The New London Day 7/15)

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