More bad news about the golden goose that has provided more than $6 billlion in state revenue since the early 1990s.
A report released Sunday morning offers an explanation for at least some of the sharp decline in gambling activity — and state revenue from slots — at Connecticut\’s two casinos.
Residents of Massachusetts — arguably the most gambling crazy state in the country — are staying home or going to Rhode Island to play the slots. Researchers from the Center for Policy Analysis at the University of Massachusetts, Dartmouth interviewed 3,000 residents from five New England states in January about their gambling habits. The New England Gaming Behavior Survey found:
\’\’Connecticut\’s casinos have continued to experience double-digit declines in year-to-year slot revenues … a major reason is because Massachusetts residents have significantly scaled back on the number of visits they make to casinos, while simultaneously shifting more of their visits from Foxwoods Resort Casino to Twin River Casino in Rhode Island …
… current trends do not bode well for the Nutmeg State\’s two behemoth casinos.\”
Meanwhile, look at this striking chart, which illustrates the decline in interest in gambling in New England. This comes just as Massachusetts is embarking on a huge expansion in casino-style gambling: