Connecticut tribal operators are braced for the opening of two new casino resorts from MGM and Wynn in neighbouring Massachusetts.
The end of August saw the first money staked at MGM’s $960m Springfield property, an opening that many in Connecticut believe will be of detriment to the local market and it’s two tribal casinos.
The Mohegan and Mashantucket Pequot tribal nations are in the process of constructing a joint venture property in the north of the state in an attempt to keep gaming dollars within Connecticut, but developmental delays will give the MGM venue an unopposed head start.
Such is not the only new competition that in-state operators will face in the coming year with the $2.5bn Wynn-operated Encore Boston Harbour, situated a paltry 70 miles from the Mohegan Sun casino, also slated to open in 2019.
In an attempt to ally the potential impact posed by both properties the tribe is undertaking a $100m investment programme at the site.
Mohegan Gaming and Entertainment’s CFO, Drew Kelley, reported that there is $40m set aside for the implementation of sports betting and gaming facility upgrades, $20m for a hotel expansion and another $20m for promotional marketing.
It is not all quiet at home either for the two tribes as potential plans for a commercial casino property from MGM in the southern city of Bridgeport continue to be discussed despite early legislative defeats.