Hartford Business Journal

4 HARTFORDBUSINESS.COM | MAY 15, 2023 BIZ BRIEFS Modern Me x ica n Gril l & T equil a Ba r 100 Allyn Street, Hartford, Connecticut 860.882.1557 | AgaveHartford.com Try something different downtown! Dine-In + Takeout | Online Ordering | Happy Hour Catering + Private Events | Saturday Brunch | Gift Cards After 50 years, a five-star West Hartford nursing home closes The Hughes Health & Rehabili- tation in West Hartford, which has been family-owned for over 50 years, announced its closing. Sam Flaxman — the grandson of the man who bought the West Hart- ford building in 1961 and turned it into a 170-bed long-term care home — recently told the 81 residents still living at Hughes the facility will be closing. Flaxman, 27, said he did everything he could to avoid the pending closure after the family business was thrust into his care when his grandmother died in January. The former tennis pro, who now works for a profes- sional pickleball league, tried to close a sale of the property that his grand- mother had been working on, but it fell through. Faced with a debt of $10,000 to $30,000 a month and a physical plant that needed at least $10 million in upgrades, Flaxman said he made the painful decision to close Hughes. The building's closure is in part a consequence of a statewide shift to home and community-based services, Flaxman has said, and in part due to declining occupancy and swelling costs. Dave Altimari and Jenna Carlesso | CT Mirror Sports-betting operator Rush Street Interactive explains CT pullout Rush Street Interactive, the Chicago-based company that the Connecticut Lottery Corp. hired to operate its online and in-person sports-betting program in 2021, said during an earnings call earlier this month that it's exiting the state's market because it was not profitable enough. Rush Street and Connecticut Lottery announced in March that the partnership was "winding down," but did not state a reason. "We are very determined to build profitability in a manner that makes sense for our shareholders," Richard Schwartz, CEO of Rush Street, told investors. "Towards that end, we announced a joint agreement to wind down our online and in-person sports-betting partnership with the Connecticut Lottery." Schwartz said there are no separation-related payments for either side. Connecticut Lottery is looking for a new operator for its sport-betting program, and Rush Street has agreed to continue operating it until a replacement is found — likely during the second half of 2023, Schwartz said. Schwartz said leaving Connecticut will reduce the company's revenue in the short term, but have a "long- term positive impact on profitability." "We thought long and hard about this decision," Schwartz said. "Ultimately, we are staying true to our strategy in any market: we have to see appropriate return on invest- ment. As the Connecticut market unfolded, it became clear that it was not the right fit for RSI, and our capital and resources could be used more efficiently elsewhere." Sports betting in Connecticut was legalized in May 2021, and went live that fall. Hartford launches $500,000 microgrant program for small businesses The city of Hartford announced a new $500,000 microgrant program that will provide small businesses with up to $2,500 in funding. Currently-operating microenter- prises with five or fewer employees (including the owner), as well as Hartford entrepreneurs seeking to develop a microenterprise, are eligible for the grant funding. Eligible applicants must also have a physical address in the city of Hart- ford and an existing business plan, or develop a business plan, as a result of the program. The Hughes Health & Rehabilitation in West Hartford. PHOTO | YEHYUN KIM/CT MIRROR Gov. Ned Lamont celebrated the launch of sports betting by making a bet at Foxwoods on Sept. 30, 2021. PHOTO | MARK PAZNIOKAS | CT MIRROR

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