Connecticut Casino Revenues Remains Strong as New Year Begins
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Some familiar names from our best sports betting sites crop up when checking out how casinos are doing in the Nutmeg State.
Connecticut’s gross gaming revenue remained strong throughout January, with the Mashantucket Pequot Tribal Nation (MPTN) and the Mohegan Tribe reporting strong online increases.
Mohegan Digital, LLC, the Mohegan Tribe's online venture, reported a total gross gaming revenue (GGR) of over $22 million. This was accompanied by promotional deductions of over $4 million and payments of over $4 million.
MPI Master Wagering License CT, LLC, which operates the MPTN's online gaming business, registered a slightly higher combined GGR of over $23 million. It also reported over $4 million in promotional allowances and over $4.1 million in payouts. DraftKings Casino is the MPTN's online partner.
Deeper details
In addition, for its on-reservation gaming at Mohegan Sun, Mohegan posted a GGR of over $58,000, a promotional deduction of over $10,000, and a payment of around $10,000. MPTN's on-reservation gaming at Foxwoods Resort Casino included a GGR of over $76,000, a promotional deduction of roughly $13,000, and a payment of around $13,000.
Mohegan Digital had total online wagers of $718. 8 million, and patron winnings were $691.2 million. The number of canceled wagers was much higher than on-reservation organizations, at around 838,000. Win/loss of online casino gaming for Mohegan Digital was over $26.7 million.
MPTN recorded even greater overall online wagers, with $876.1 million. Patron winnings were $847.6 million, and canceled wagers totaled just over $1.1 million. MPTN's online casino gaming win/loss was the greatest, at around $27 million.
Online casino gaming win/loss figures are shown to be the most lucrative category. The Mohegan and the MPTN surpassed $26 million in online casino gaming win/loss figures, much greater than the on-reservation options reported, at under $100,000 each. This solidifies the sweeping dominance of online gambling as Connecticut's leading industry.
Due to these high performances, both tribes contributed significantly to the state government. Mohegan paid $4.1 million based on its gambling compact, and MPTN paid just under $4.2 million.
Operators Performing Well Across the US
The biggest gambling operators in the US, DraftKings and FanDuel, are both active in Connecticut.
Both operators have seen plenty of success recently nationwide, with DraftKings announcing its Q4 2024 results. DraftKings revealed it collected $1.4 billion in Q4, an increase of 13% on the same period the year prior.
Meanwhile, FanDuel boosted its Connecticut sports betting product in December by introducing the MySpend feature. The sportsbook operator recently revealed that 3.5 million customers had started using the feature since its launch.