Foxwoods Casino Is Struggling for Its Life
Foxwoods Casino pays Connecticut approximately 25 percent of the ‘‘hold’’ from its slots, which was totaling $46 million in January of 2015.
Virtually everything about the Foxwoods Resort Casino is implausible, starting with its scale. It is considered to be the largest casino that is in the Western Hemisphere — an enormous, complex wonderland that is set down within a cedar forest as well as a swamp in an otherwise lethargic place of southeastern Connecticut. Over Forty thousand consumers pack into Foxwoods over the course of a weekend. The Resort Casino has approximately 6,300 slot machines. They also employ around Ten thousand staff members. If you were to include everything when measuring — hotel space, restaurants and bars, ballrooms and theaters, bowling alley, spa— Foxwoods Resort Casino would measure approximately 6.7 million square feet, this would indeed measure more than the Pentagon itself.
The Mashantucket Pequot Tribal Nation is the owner of this immense enterprise. Once they were very powerful and some even said feared, the Pequots Tribal Nation were nearly extinguished in less than one day — in truth, this almost happen in just one hour — as the English colonists as well as their Indian allies attacked and burnt the main Pequot village near Mystic in 1637. The survivors of this battle were either sold into slavery or they were given over to their neighboring tribes.
These days the Mashantucket Pequot Tribal Nation is dealing with the most recent implausibility in its tumultuous history: economic havoc. The Foxwoods Resort Casino is underwater and sinking quick. The Mashantucket Pequot Tribal Nation misjudged the market doing so they borrowed too much money as they expanded this casino unwisely. Foxwoods Resort Casino’s debt is on a scale that is quite fitting in consideration of the size of the property, standing at$2.3 billion.