HARTFORD, Conn. (AP) – The General Assembly’s fiscal office is predicting Connecticut could lose $68.3 million in revenue once MGM Resorts International’s planned casino opens in nearby Springfield, Massachusetts, in the fall of 2018.
The Office of Fiscal Analysis was asked to update lawmakers on the new casino’s potential impact on Connecticut’s revenues for fiscal year 2019.
Leaders of Connecticut’s two federally recognized tribes have warned that business at their two casinos in southeastern Connecticut will suffer once the MGM casino opens, and subsequently, slot-machine revenues to the state could decline. They’ve formed a company that’s seeking sites for a proposed, jointly run border casino to compete with MGM. The project, however, still needs legislative approval.
A spokesman for the tribes said Tuesday the state and tribes need to work together to prevent “losses of this magnitude” to Connecticut.
MGM says if Connecticut wants to maximize job creation and revenue for the state, it should allow other casino developers to operate in the state. MGM contends a new casino in southwestern Connecticut could generate “far more revenue” than $68.3 million.
Copyright 2016 The Associated Press.
