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Connecticut Tribal Casinos Not Worried About New Competition

16 July 2004

CONNECTICUT – As reported by the Norwich Bulletin: "On July 2, New York State's fourth racino -- a race track with slot machines -- opened in Monticello, N.Y., and pulled $3.9 million from the pockets of 23,000 gamblers.

"The following Monday, Gov. Ed Rendell of Pennsylvania signed legislation that will introduce 61,000 slot machines at 14 sites over the next three years.

"The 61,000 slot machines are equal to 10 Foxwoods or 10 Mohegan Suns.

"…'One could make the case (racinos) may even have positive impact on our business, as people sample the product and want to have a more fulfilling experience,' said Mitchell Etess, Mohegan Sun executive vice president.

"…Alex Rodriguez, Foxwoods executive director, agreed.

"…Sebastian Sinclair, president of Christiansen Capital Consultants, a research firm in New York that works with the gaming industry, also agreed that racinos don't pose a great threat.

"…Both local casinos have spent hundreds of millions of dollars to enhance the resort image and bolster their position should a third competitor enter the market…"

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