Coming Massachusetts and New York casinos will take a $254 million bite out of Connecticut’s casino tax revenues between 2017 and 2019, according to an analysis commissioned by the operators of Mohegan Sun and Foxwoods Resort Casino.
Those lost taxes would be the result of out-of-state casinos displacing nearly $703 million in gross revenue from Connecticut casinos over those three years, the report by Clyde Barrow of Pyramid Associates concludes.
More than one-third of that displaced revenue would be from northern and western Connecticut residents, the report said.
The state’s two casinos will also be forced to eliminate 5,812 jobs as a result, and an additional 1,890 indirect jobs will be lost at related vendors, the report said. Lost wages will result in lower spending, which will induce another 1,598 Connecticut job cuts, for a grand total of 9,300 lost jobs by 2019.
Barrow’s report — the second substantial analysis on behalf of the tribes since March — comes as Foxwoods and Mohegan push for approvals to open several new casinos near Connecticut’s northern and western borders.
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