New England’s six casinos generated more $166 million in slot machine revenue in July 2018.
As gaming expands its footprint, there have been a number of warnings about saturation and cannibalization. These are legitimate concerns, but at this juncture, the market appears to have room to grow.
Yes, the new additions have siphoned some customers from existing properties. However, they’ve also been expanding the overall market, which has been in a rut.
A closer look at July’s casino slot revenue
New England slot revenue July 2018:
- Plainridge Park Casino – MA: $15,149,926
- Foxwoods Casino – CT: $42,832,217
- Mohegan Sun Casino – CT: $55,037,319
- Twin River Casino – RI: $38,603,691
- Newport Grand Casino – RI: $4,145,038
- Hollywood Casino – ME: $3,489,441
- Oxford Casino – ME: $7,468,455
- Total: $ 166,726,087
Here’s how each facility stacks up:
|# Slot Machines||Average RTP|
|Twin River Lincoln||4,200||92%|
|Twin River Tiverton||1,000||92%|
Table game revenue numbers
Because Connecticut‘s two tribal casinos only report slot revenue to the state, and table games aren’t permitted at Plainridge Park in Massachusetts, table game revenue is difficult to accurately measure in the region.
The only concrete numbers we currently have come from Twin River in Rhode Island and the two Maine casinos. That will change in the coming months once MGM Springfield and Twin River Tiverton begin reporting table game revenue.
Table game revenue July 2018:
- Twin River Casino – RI: $9,652,487
- Hollywood Casino – Maine: $627,306
- Oxford Casino – Maine: $1,574,787
- Total: $11,854,580
Here’s how each facility stacks up:
|# Table Games||# of Poker Tables|
|Twin River Lincoln||93 +48 Stadium Games||23|
|Twin River Tiverton||32+18 Stadium Games||N/A|
Update on new and proposed New England casinos
Saying the New England casino market is very fluid is an understatement.
As noted above, MGM Springfield opened its doors less than two weeks ago, and Twin River Tiverton casino is only a few days old. Then there’s the $2.4 billion Encore Boston Harbor casino, which is scheduled to open its doors in June 2019.
At the same time, Connecticut seems to be moving forward with plans for a third tribal casino near the Massachusetts border. The project, a collaboration between the state’s two gaming tribes, the Mashantucket Pequot and Mohegan tribes, is designed to offset the impact of the new Rhode Island and Massachusetts casinos.
Finally, the Mashpee Wampanoag tribe hasn’t given up on building a tribal casino in southeastern Massachusetts.
State-by-state casino revenue breakdown
Massachusetts enters a new era
Plainridge Park Casino had a solid July, posting revenues of $15.1 million.
It’s a slight decline from July 2017, but all-in-all the casino’s revenue held steady year-over-year.
- July 2017: $15.4 million
- July 2018: $15.1 million
The first numbers from MGM Springfield will be available soon, but don’t expect anything massive. Despite a busy opening, the numbers will be modest, as the casino is open for a total of eight days in August.
Connecticut: From big fish in a little pond to big fish in a big pond
Connecticut is still the top dog of the three states, thanks to Mohegan Sun and Foxwoods. the tribal giants are not only two of the largest casinos on the East Coast, they’re two of the largest in the country.
Both casinos posted strong revenue numbers in July. However, the true test for the tribes will be how they fare following the openings of MGM Springfield and Twin River Tiverton.
The general consensus is both properties will be the victim of cannibalization, but I’m not convinced it’s going to be as dramatic as many people think. Both have been investing a lot of capital in their properties, and offer way more than Twin River Tiverton, and even MGM Springfield.
Rhode Island: Bracing for a new casino of its own
Twin River continues to over-perform.
The former dog track, turned slots parlor, turned full-fledged casino is No. 2 in the region in terms of slot revenue, and not far behind Mohegan Sun. It’s doing that despite a lack of top-notch amenities, as well as having the worst slot RTP in the region at a paltry 85 percent.
With its Tiverton opening, and sports betting set to launch in November, Twin River could surprise a lot of people going forward. Yes, it’s up against gaming giants Wynn Resorts, MGM, Mohegan Sun, and Foxwoods, but don’t sleep on Rhode Island and Twin River.
Maine: Yeah, they have casinos too!
Maine’s two casinos are never going to be revenue powerhouses, but they’re far from also-rans.
One of the two casinos is on par with Plainridge Park and Twin River Tiverton casino, and Hollywood Casino does a respectable amount of business considering its size and location.