New England Casino Market Seeing Uptick In Revenue From New Resorts

In November, New England casino revenue started to stabilize.

November was a stabilizing month for the New England casino industry. After three months, the region’s existing casinos seem to be adjusting to the two new casino properties in Springfield, Massachusetts, and Tiverton, Rhode Island.

Year-over-year revenues at three of the four southern New England casinos fell for the third consecutive month, but the decline was far less precipitous than it had been in September and October.

More importantly, the new casinos are significantly growing the overall market, adding some $20 million per month to the region’s collective haul.

Players benefit from New England casino competition

Another interesting development is a shift in slot-hold percentages at multiple casinos. With Plainridge Park and the Connecticut casinos returning 92 percent to slot players, MGM’s slot RTP has crept up from 90 to 92 percent since it opened its doors in late August.

Even the extremely stingy Twin River is adjusting to the increased competition, as its slot RTP has risen from 85 percent to 86 percent.

A closer look at this month’s slot revenue

New England slot revenue November 2018:

  • Mohegan Sun Casino, CT: $44,264,700
  • Foxwoods Casino, CT: $35,287,300
  • Twin River Lincoln, RI: $34,646,200
  • MGM Springfield, MA: $13,371,900
  • Plainridge Park Casino, MA: $12,852,300
  • Twin River Tiverton, RI: $7,555,900
  • Oxford Casino, ME: $5,351,300
  • Hollywood Casino, ME: $2,919,400

Here’s how each facility stacks up:

 # Slot MachinesAverage RTP
MGM Springfield2,55092%
Plainridge Park1,20092%
Foxwoods4,10092%
Mohegan Sun4,80092%
Twin River Lincoln4,20086%
Twin River Tiverton1,00085%
Oxford Casino95090%
Hollywood Casino72590%

A closer look at this month’s table game revenue

Table game revenue November 2018:

  • Twin River Lincoln, RI: $11,574,436
  • MGM Springfield, MA: $7,876,010
  • Twin River Tiverton, RI: $2,142,535
  • Oxford Casino, ME: $1,066,209
  • Hollywood Casino, ME: $718,188

Here’s how each facility stacks up:

 # Table Games# of Poker Tables
MGM Springfield12023
Plainridge ParkN/AN/A
Foxwoods250100
Mohegan Sun30042
Twin River Lincoln10022
Twin River Tiverton32+18 Stadium GamesN/A
Hollywood Casino184
Oxford Casino28N/A

State-by-state casino revenue breakdown

Massachusetts

It’s still early, but MGM Springfield is shaping up to be a $20-$25 million/month property.

More importantly, its impact on Plainridge Park seems negligible. Plainridge’s year-over-year revenue has been relatively steady since the opening of MGM. The racino is even flirting with the idea of petitioning the state for the remaining casino license that the Massachusetts Gaming Commission shelved after a proposed tribal casino in Taunton fell through.

Connecticut

October was a tough month for the two Connecticut casinos, with year-over-year revenue falling 10 percent at Foxwoods and Mohegan Sun. Both properties were down again in November, but by 6.8 percent and 8 percent respectively.

Considering the new competition the two casinos are dealing with, those declines could be seen as wins.

Of course, with a third and much grander casino (Encore Boston Harbor in Everett, MA) opening in June, Foxwoods and Mohegan aren’t out of the woods yet.

Rhode Island

Twin River owns and operates both Rhode Island casinos, and after relocating Newport Grand’s casino license to its new Tiverton location, monthly gaming revenue has quadrupled.

And neither the new Tiverton property or MGM Springfield seem to be having an impact on the company’s flagship property, Twin River Lincoln. In fact, Twin River Lincoln saw revenue rise year-over-year in November, the first southern New England casino to pull that off since the new properties opened their doors.

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Rhode Island also gave its casinos an assist when it legalized sports betting. Both properties’ sportsbooks are now up and running, with which will further add to their revenue tallies going forward.

Maine

They may technically be in New England, but Maine’s two casinos are far enough away that the opening of the two new casinos has had little impact on their operations.

So, for the most part, it’s been business as usual at Hollywood Casino and Oxford Casino.

Steve Ruddock

About

Steve Ruddock is an avid poker player and a veteran member of the gaming media. His primary focus is on the regulated US online casino and poker markets. He writes for numerous online and print publications, including OnlinePokerReport.com, USPoker.com, and USA Today.