WOW, What a week in CT gaming! MGM and WYNN’s inevitable existence has caused all sorts of concern in the Nutmeg state about lost gambling revenue.
Listen, nothing stays the same – life is constantly evolving. It’s naive to think that the comfy revenue CT had ten years ago to add to their coffers would continue without any change. If you followed any type of news source over the past ten years, you would have been aware of three things:
1) More states in the U.S continue to depend in casino revenue to help themselves financially than ever before. Gaming properties in the United States include over 1500 casinos, horse tracks, dog tracks, resorts, and cruise ships. 40 states now have some form of legalized electronic gaming device—including traditional slot machines, video poker and bingo—at Indian casinos, commercial casinos, racetrack casinos, and/or bars, restaurants or other licensed establishments
2) With increased casinos comes increased competition, increased saturation in some areas, and the need to re-invent the casino product – any person, state, legislature, community, gaming company, or gambling entity of any kind not reacting to these rapid changes in the last decade will certainly and inevitably perish.
3) Americans love to gamble. Humans love to take chances. And state politicians want to take advantage of the “Gambling Craze” with quick easy fixes like casino gambling to take the place of finding creative ways to take care of its residents financially.
So, this post is merely to “tickle” your interests with the latest 3rd CT Casino hysteria. I hope to point out the FACTS as they stand in CONNECTICUT at this time, the MYTHS about the GAMING INDUSTRY as it pertains nationally and to the northeast, and ending with my OPINIONS and PREDICTIONS concerning the future of casino gaming in New England, and maybe elsewhere – New York, Atlantic City and Pennsylvania.
But first, I’d like you to take a quiz – a casino industry quiz. Let’s see what your GIIQ is (your Gambling Industry Intelligence Quotient).
1) What state has the 2nd most casinos? a) Washington b) California c) Montana d) Oklahoma
2) How many states don’t have lotteries? a) 3 b) 5 c) 7 d) 12 e) none – everyone has at least state-run lotteries
3) Which state does not have a lottery? (well, that should help you wit the previous question!) a) Alaska b) Mississippi c) Nevada 4) Wyoming 5) All of the above
4) Which state has the most Native American Casinos? a) Connecticut b) Washington c) California d) Oklahoma
5) Which casino in the United States is the largest? a) Foxwoods, CT b) WinStar World Casino, OK 3) MGM Grand, Las Vegas 4) Caesars Palace, Las Vegas 5) Borgata, Atlantic City
The answers will be in Tuesday’s post! Tuesday will also be Part 2 of Connecticut’s Casino Expansion and will include the facts in the recent week’s expansion proposal.
That’s all for now!