This paper studies the impact of connection admission control (CAC) on the congestion management practices and the revenue of a monopoly access point (AP). The AP provides congestion-indication signals that suggest users to choose their access probabilities in response to network loading conditions. A Stackelberg leader-follower game is then formulated to analyze the interaction between the AP and the users. In particular, the AP first estimates the probable utility degradation of existing users consequent upon the admission of an incoming user. Second, the AP decides whether the connection of the incoming user should be admitted or not. The proposed CAC policy is completely distributed and can be implemented by individual APs using only local information. Simulation results show that the proposed algorithm achieves higher saturation throughput as well as greater revenue gain when compared with an existing algorithm.