53°
Lamont announced on Thursday, March 18 that the Mohegan Tribe, and Mashantucket Pequot Tribe have reached an agreement that “will allow the State of Connecticut to modernize gaming options available to state residents.”
The agreement is expected to generate tens of millions of dollars for the state, while “keeping Connecticut competitive with gaming currently being offered or considered in neighboring states.”
As part of the agreement, the Connecticut Lottery Corporation will be a partner to “modernize the state’s gaming landscape.”
"Connecticut is on cusp of providing a modern, technologically advanced gaming experience for our residents, which will be competitive with our neighboring states,” Lamont said. “Our state’s tribal partners have worked with my administration thoughtfully, deliberately, and in a constructive fashion for the past few months, and we have achieved an agreement that is best for Connecticut residents and their respective tribal members."
Key components of the agreement, according to state officials, include:
- A 20 percent tax rate for the state on new online gaming, or “iGaming,” offerings;
- A 13.75 percent tax rate on sports wagering;
- Connecticut Lottery shall have the right to operate 15 retail sports betting locations, as well as operate an online sports betting skin;
- Connecticut Lottery shall have the right to sub-license some of those locations to the state-licensed pari-mutuel operator;
- Connecticut Lottery will undertake new retail sports betting venues in Hartford and Bridgeport;
- License agreement to be for ten years with a five-year extension option.
"This will allow Connecticut to generate tax revenues from sports and online gaming that are competitive with other states, to the benefit of both state and local municipal budgets, as well as our tribe’s members," Mohegan Tribal Council Chairman James Gessner Jr. said.
Mashantucket Pequot Tribal Chairman Rodney Butler added: "We’re proud of this landmark agreement with the State of Connecticut that cements a historic moment for our Tribal Nation. This agreement bolsters the state’s economic development and growth, and allows us to develop a stable economic foundation for the future of our tribal community."
Click here to follow Daily Voice Fairfield and receive free news updates.
