"Connecticut's two American Indian-operated casinos have known for more than a decade that competition was coming. They talked about it, strategized for it, and even said they'd welcome it. But all that was before what Federal Reserve Chairman Ben Bernanke calls "the worst financial crisis in modern history."
Just as Foxwoods Resort and Mohegan Sun casinos were hitting their stride in 2007 the Great Recession set in and has lingered. And just as businesses and individuals around the world have been stung, so have Connecticut's casinos. But the economic hard times have also hastened their competition, as states once cool to legalizing gambling are stampeding to open, and cash in on, their own casinos. Just how big is that gambling revenue pie and how many states can get a slice of it? Rhode Island and Massachusetts are in a sprint to see which state can legalize Las Vegas-style gambling first (although Rhode Island may have violated its own state and local laws in the rush to get there). In Massachusetts, meanwhile, some lawmakers are concerned about the thoroughness and thoughtfulness of the hurried legislation. Then there's the Shinnecock Tribe in Long Island, just across the Sound, recognized last week by the federal government, opening the door for its planned casino enterprise." Get the Story: