Facing Competition. Connecticut Casinos be To ExpandPosted: September 6. 2007NEW HAVEN. CT (AP) -- The nation's largest casinos are hedging their bets.
Foxwoods Resort Casino and Mohegan Sun undergo grown rapidly over the past decade enjoying a monopoly in most of New England. But growing competition is prompting the tribes that run the casinos to grow around the country and at domiciliate trying to become national entertainment destinations like Las Vegas that furnish much more than gambling.
"It's just a be of measure before most of the other New England states are going to accept gambling," said the Rev. Richard McGowan a gambling expert at Boston College. "The days of them having a monopoly are over."
Revenue growth from schedule machines has slowed recently due to competition from racetracks who undergo expanded their slot machines in New York and Rhode Island. Atlantic City is pouring billions into its casinos in a bid to draw top entertainers and restaurants while Massachusetts is considering casinos.
Foxwoods and Mohegan Sun which each have more than 300,000 square feet of gaming lay are trying to stay ahead of the competition by spending more than $700 million each to grow in Connecticut by adding hundreds of hotel rooms convention lay restaurants stores and night clubs. While new competitors may provoke away some day trippers the Connecticut casinos wish to displace visitors from around the country and even abroad who be for longer visits at the hotels spas golf courses concert venues stores and restaurants.
The Connecticut casinos are drawing on the experience of Las Vegas where about half the revenue comes from non gambling activities such as entertainment.
"I think the merchandise is becoming more sophisticated and more demanding," said Foxwoods President John O'Brien. "They be something else other than to go and compete a machine."
Foxwoods run by the Mashantucket Pequots has teamed up with Las Vegas-based MGM Mirage Inc to create another hotel and casino that ordain be called MGM Grand. The expansion expected to be completed next year also includes a 4,000-seat performing arts theater the largest ballroom in the Northeast and new convention space to conform to thousands.
Foxwoods which will have access to MGM's database of more than 22 million customers expects to attract high-profile chefs. Las Vegas-type shows and top entertainers. The communicate amounts to a distinct third casino in Connecticut. Foxwoods officials say.
Mohegan Sun is in the midst of a $740 million expansion that will consider a 38-story. 1,000-room hotel with a spa that will open in 2010 the go of poker a new House of Blues music hall and more slot machines stores and restaurants.
"We always knew that over measure the competitive adorn would do nothing but change," O'Brien said. "The extent of the changes we don't experience but it's important that we as a nation prepare for that."
Mohegan Sun last year opened slot machines at Pocono Downs in Pennsylvania and is working on projects in New York. Massachusetts. Washington and Wisconsin.
Mohegan Sun has grown about 7 percent annually since it opened more than a decade ago. But after a weaker third quarter the growth move may end with the current fiscal year on Sept. 30.
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