The General Assembly's fiscal office is predicting Connecticut could lose $68.3 million in revenue once MGM Resorts International's planned casino opens in nearby Springfield, Massachusetts, in the fall of 2018.
The Office of Fiscal Analysis was asked to update lawmakers on the new casino's potential impact on Connecticut's revenues for fiscal year 2019.
Leaders of Connecticut's two federally recognized tribes have warned that business at their two casinos in southeastern Connecticut will suffer once the MGM casino opens, and subsequently, slot-machine revenues to the state could decline. They've formed a company that's seeking sites for a proposed, jointly run border casino to compete with MGM. It still needs legislative approval.
A spokesman for the tribes on Tuesday said the state and tribes need to prevent "losses of this magnitude."
"We are fully aware of the negative impact MGM's facility will have on both jobs and revenue. A hit like this to the state's bottom line will lead to more cuts to essential social services, and more tough choices for our state leaders. We need to get this right, and make sure that losses of this magnitude never come to fruition," a statement from MMCT Venture, the company formed by the Mohegan and Mashantucket Pequot tribe, says.
