Slot-machine revenue at Mohegan Sun and Foxwoods Resort Casino rose in May, with both casinos posting their best monthly results since the current fiscal year began last July. This trend could continue if they are able to remain open amid the COVID-19 pandemic which has closed many other businesses.
Mohegan Sun contributed 25% of its May slots win, or $11.2 million, to the state in order to meet their minimum contribution requirement set by the government. They’ve paid a total of 108.3 million through 11 months and with Foxwoods’ help they met this month’s quota at 25%.
In effect, Foxwoods took what it already had as credit from previous payments that were required but not reached due to lack on funds which is allowed under Mashantucket Pequot Tribe revenue-sharing agreement with Connecticut made possible because casinos are non profit entities earning only for themselves whereas tribal governments have other needs such as education where money goes back into communities adding value generating more income overall.
The Mashantuckets and the Mohegan Tribe have contributed a combined $200 million in revenue to Connecticut over 11 months, with Foxwoods alone contributing an impressive $74.4million so far this fiscal year.
The power of the casinos in Connecticut has shifted from Foxwoods to Mohegan Sun over time. In fiscal 2019-20, when all the state’s casinos shut down for 11 weeks due to a coronavirus pandemic, both Casinos contributed significantly less than their peak contribution levels.
Over that same period one year earlier (fiscal 2018-19), while not as high a level as before closures caused by disease outbreaks and other factors such as Hurricane Sandy in 2012 or Superstorm Irene later that summer, there was approximately $400 million still flowing into public coffers via these two behemoths alone.