The sportsbook and lounge at the XL Center in Hartford, Connecticut, has found it challenging to gain traction in its first months of operation, according to a report from the Connecticut Capital Region Development Authority.
The CRDA reported total net operational losses for the venue at $284,000 through December since opening in late September. The sportsbook itself generated roughly $18,000 in net revenue in that span, which is approximately 13.7% of the $131,006 in adjusted gross sports betting revenue reported from the $937,000-plus bet at the XL Center.
The CRDA cited multiple factors in the slow start, which included the mid-December transition from Play SugarHouse to Fanatics Sportsbook as the Connecticut Lottery’s official sportsbook for retail and mobile betting. Another was the lack of weekday traffic around the XL Center, though the lounge and sportsbook have proven popular on weekends and game days involving the UConn men’s and women’s basketball teams, as well as the Hartford Wolf Pack of the American Hockey League.
The current losses project to a fiscal-year deficit ranging from $600,000 to $750,000. According to the , CRDA Executive Director Michael Friemuth said at last week’s board meeting that the XL Center sportsbook and lounge was originally projected to lose approximately $400,000 during its first year of business.