The Day – First Full Month of Online Casino Games, Sports Betting Brings State $ 4.2 Million

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Online casino games and sports betting generated $ 4.2 million for the state in November, the first full month that new forms of gambling were available, according to data released Thursday by the Connecticut Department of Consumer Protection. show.

As expected, most of the new revenue – $ 2.5 million, or 59% – came from online gaming platforms Foxwoods Resort Casino and Mohegan Sun launched in October, allowing customers to play virtual versions of casino games. , including slot machines, on computers, tablets. and portable devices.

The online sports betting platforms operated by casinos and Connecticut Lottery Corp. combined to generate $ 1.6 million in payments to the state in November, while the lottery’s nine retail sports betting sites won an additional $ 112,314.

In October, online casino games generated nearly $ 1.2 million for the state while sports betting generated $ 513,000.

Foxwoods online casino gaming site, operated by DraftKings, processed $ 416.0 million in bets in November and paid out $ 405.4 million in winnings. After subtracting the canceled bets and 25% of the amount spent on promotional discounts and coupons, the casino was left with gross gaming revenue of $ 7.9 million. That amount was subject to an 18% tax on online gaming revenue, as set out in the Connecticut Gaming Expansion Act passed in May.

Foxwoods’ online casino gaming payout to the state has exceeded $ 1.4 million.

Mohegan Sun, in partnership with FanDuel, handled $ 275.2 million in online casino bets last month, paid customers $ 267.4 million in winnings and generated gross revenue of $ 5.9 million. of dollars, including $ 1.1 million to the State.

When it comes to online sports betting, Mohegan Sun has cashed $ 59.0 million in bets and paid customers $ 50.8 million in winnings. After paying federal excise tax and promotional expenses, Mohegan Sun’s gross revenue was $ 6.0 million, which was subject to Connecticut’s 13.75% tax on sports betting revenue. This resulted in a payment to the state of $ 819,799.

Foxwoods has managed $ 60.0 million in online sports betting and paid customers $ 52.5 million in winnings. Its gross revenues of $ 5.1 million resulted in a payment of $ 703,665 to the state.

The lottery, which raised $ 8.5 million in online sports betting and paid patrons $ 7.7 million in winnings, handed over $ 76,358 to the state. “

“We remain exceptionally encouraged by our digital gaming performance,” said Ray Pineault, President and CEO of Mohegan Gaming & Entertainment, the company that includes Mohegan Sun. “Our November results show the continued opportunity for growth in this area of ​​our organization.”

Online casino games and online sports betting were not expected to provide casinos as much gambling revenue as slot machines. However, new forms of gambling were seen as crucial to the ability of casinos to remain competitive with casinos in other states. According to the American Gaming Association, retail and / or legal sports betting is offered in 30 states and Washington, DC, including all northeastern states except Massachusetts, Vermont, and Maine. . Seven states have legalized online casinos and / or poker.

The casinos released their slots reports for November on Wednesday. Mohegan Sun announced that he was keeping $ 40.7 million in slot machine revenue after paying prizes and transferred the required 25%, or $ 10.2 million, to the state. Foxwoods kept $ 28.2 million and sent over $ 7 million to the state.

In September, Governor Ned Lamont said he expected online casino games and sports betting to generate $ 100 million a year for the state within four to five years.

Revenues generated from retail sports betting at casinos are not taxed and are not reported monthly.

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