East Coast Gambling Sector to Get Oversaturated

Casino industry of the East Coast is developing with a tremendous speed and more and more New England states opt for having their casino markets expanded. However, the more states enter the gambling business, the more severe competition the already established casinos are going to face.

It became clear that the New Hampshire officials are considering the possibility for expanding their gambling sector, which made market analysts question the adequacy of that decision since the chances for establishing unprofitable casinos are pretty high.

Meanwhile, Massachusetts is also aiming at expanding the gambling segment and in a few years it will have three casinos as well as a slot parlor established, including the mega resort of Steve Wynn.

Massachusetts is going to enter the already saturated gambling sector. People with knowledge on the matter hurried up to remind that as neighboring states – Rhode Island, Maine, Connecticut as well as New York, are recognized as leading gambling hubs in New England.

However, despite the fact that the above-mentioned states have already consolidated their positions on the market, Massachusetts is expected to dominate the local industry.

According to the estimates, Massachusetts-based casinos will lure players from Connecticut and Rhode Island and the most prominent casinos in those states will lose significant sums of money on annual basis.

As for the future casinos in New Hampshire, they are likely to pose a serious threat to the revenues of the casinos on the territory of Massachusetts. The one that is to be established at Rockingham Park is expected to attract players from the North Shore and the Merrimack Valley. Its convenient location would definitely cause a lot of troubles to the Massachusetts’ casinos and people familiar with the matter revealed that the question about the saturation of the local gambling market is likely to be back on the agenda.

For the time being, New Hampshire residents are allowed to participate in charitable games and lotteries but that may change soon as the authorities are currently reviewing the opportunity for allowing two casinos on the territory of the state. Time will tell what the final say of the legislators will be but one thing is for sure, if the legislation gets the nod, New Hampshire will play a key role in the gambling affairs of the New England region.

Currently, the Foxwoods and Mohegan Sun in Connecticut are experiencing the negative impact of the saturated gambling sector. They keep reporting a decline in revenues and owe the decrease to the increased competition from New York casinos.

Massachusetts officials said that they were well-aware of the serious competition they have to face upon considering the expansion of the gambling sector. What is more, they announced that they are prepared for dealing with the competitors.

In point of fact, they revealed that the taxes casino operators will have to pay, will be used predominantly for educational purposes.

Related News

CasinoNewsDaily is a media focused on providing daily news from the casino industry as well as in-depth gaming guides. Our guides cover roulette, blackjack, slots and video poker.
Tweet about this on Twitter
Share on Facebook
Share on LinkedIn
Share on Reddit