Connecticut sports betting handle drops to $115M in February; casino slots revenue continues on the rise

Connecticut reported Tuesday in its latest financial results that sports betting numbers were down in February compared to January 2022. Foxwoods Resort Casino, Mohegan Sun and the Connecticut Lottery Corp.'s combined betting handle topped $115.6 million, down 26.9% from the $158 million wagered on sports in January. 

Sports betting revenue also was down compared to the previous month. Foxwoods, Mohegan Sun and the Connecticut Lottery Corp. combined to pay the state $501,516, a sum that is 13.75% of their gross sports betting revenue, which amounted to $3.647.389.

The majority of sports betting in Connecticut came on mobile devices, which handle was $108.7 million, down 27.2% from January’s $149.3 million. Connecticut’s iGaming handle topped $743.8 million in February, down 4.6% from January’s $780 million.  

The decline in wagering from the first month to the second of the year is due partly to the number of weekends in each month, as January had five weekends. The 12 NFL playoff games and the College Football Playoff National Championship also took place during January. February’s sports betting totals got a boost from the NFL’s Super Bowl held February 13 in Southern California. 

Mohegan Sun's FanDuel sportsbook.

Casinos also reported their gaming performance during the second month of the year. Its slot-machine revenues saw an increase compared to the same month a year ago.

Mohegan Sun reported it kept $40.4 million in slots revenue after paying out prizes, a 23.3% increase over the $32.7 million it kept in February 2021. Foxwoods Resort Casino’s numbers, posted on the website of the state Department of Consumer Protection’s Gaming Division, show it kept $28 million in slots revenue, a 24.4% increase over the $22.5 million it kept last year. 

The casinos contribute 25% of their monthly slot wins to the state. In February, Mohegan paid $10.1 million and Foxwoods paid $7.1 million. The casinos, which pay 18% of their gross online gaming revenue to the state, saw another $3.1 million, with Foxwoods paying $1.9 million and Mohegan Sun, $1.2 million. The total was down from the $3.4 million the casinos paid the state in online gaming revenue in January.

Online casino gaming and sports betting were approved last year by the legislature, and introduced in mid-October in Connecticut. Back in January, Foxwoods Resort Casino outperformed its rival, taking in more than $11 million in gross online gaming revenue in January compared to Mohegan Sun’s $7.7 million.