Lottery revenues beat casinos for first time in 15 years
For the first time in 15 years, the Connecticut Lottery Corporation revenues beat out the Connecticut casinos.
The Connecticut Lottery has had one big rival: casinos. This past year, however, the Connecticut Lottery exceeded casino revenues by 5.3%.
The state of Connecticut boasts two tribal casinos. Foxwoods Resort Casino is the largest resort casino in North America and boasts being one of the most popular along the Eastern United States. The Mohegan Sun casino is run by the Mohegan Tribe of Connecticut, and boasts three world class casinos.
This year, the state lottery was able to surpass the revenue gathered from both casinos. This year, the Connecticut Lottery Corp transferred a total $321.1 million to the state General Fund. This exceeded last year’s transfers by approximately $2 million, making a new record for the Connecticut Lottery.
The Lottery believes the growth of Powerball and Mega Millions in the past year are a big help in raising the popularity of lotteries. In addition, the lottery revenues beat casinos within the state due to neighboring state casinos causing growing competition for CT casinos.
Overall, the Connecticut Lottery and Connecticut Casinos generated over $608.5 million for the state General Fund. These funds will help the state allocate money for other entities that require more funds in the coming year.