Though sports betting is still a long way from being legal in Connecticut, Governor Ned Lamont and Mohegan Tribe Chairman James Gessner Jr announced an agreement this week that would enable the state to modernise its gaming options.
The deal will encourage Connecticut to introduce sports betting and internet poker, a step that could bring in tens of millions of dollars in additional revenue while keeping the state competitive with gaming reforms either being offered or contemplated in neighbouring states.
Modernise state gaming environment
The Connecticut Lottery Corporation will be included as a participant in the initiative to modernise the state’s gaming environment.
A 20 percent tax levy on new internet games or igaming offerings, as well as a 13.75 percent tax limit on sports wagering, are key elements of the deal. The Connecticut Lottery will be able to run 15 retail sports betting sites, as well as an internet sports betting skin, and sub-license each of those locations to a state-licensed pari-mutuel operator.
The Lottery will also open new retail sports betting locations in Hartford and Bridgeport, with a 10-year licencing deal and a five-year extension clause.
Moving forward in gaming
Said Lamont: “This agreement represents months of hard work and dedication to getting a deal that’s best for the residents of Connecticut and moves our state forward when it comes to the future of gaming.
“We are incredibly fortunate to have such a devoted partner in these efforts like the Mohegan Tribe, as they have been open to negotiation, honest discussion, and a positive path forward that is beneficial for both their tribe and the State of Connecticut.”
Gessner added: “The Mohegan Tribe is proud to have reached this agreement with Governor Lamont and the State of Connecticut. This path will allow Connecticut to generate tax revenues from sports and online gaming that are competitive with other states, and help keep Connecticut with those states when it comes to growing our economy and benefiting the state budget. We’re thankful to Governor Lamont and his team, and we look forward to continued work with the General Assembly as this process continues.”