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Connecticut Governor Ned Lamont and the Mohegans, one of the state’s two federally recognized tribes, on Tuesday announced that they have reached an agreement that would pave the way for legal online gambling and Sports Betting in the state.
The agreement practically permits non-tribal gambling operators to enter Connecticut for the very first time ever. Gaming practices have up until now been limited to two tribal casinos and the state-run Lottery.
The Mashantucket Pequot Tribe was notably missing from the Tuesday announcement. State lawmakers said that there was still one financial point that tribe and the Governor’s office needed to discuss.
The Mohegans operate the Mohegan Sun casino resort in Uncasville, while the Mashantucket Pequots run Foxwoods Resort Casino. The two tribes have been paying a portion of their annual slots revenue to the state in exchange for their exclusivity over Las Vegas-style gaming.
Under the terms of the newly announced sportsbetting and iGaming deal, the Connecticut Lottery Corp. will be allowed to operate up to 15 retail Sports Betting facilities around the state and an online wagering skin.
It will also have the right to sub-license some of the above 15 sites to Connecticut’s pari-mutuel operator, Sportech.
Betting and online gambling licenses will be valid for 10 years with an option for a five-year extension. The Lottery will also establish new retail wagering locations in Hartford and Bridgeport.
Under the agreement, sports bets revenue will be taxed at 13.75%, while online gaming will be taxed at 20%. The iGaming tax rate has been supported by the Mohegan Tribe, but the Mashantucket Pequots have opposed it.
FULL STORY
Connecticut Governor Ned Lamont and the Mohegans, one of the state’s two federally recognized tribes, on Tuesday announced that they have reached an agreement that would pave the way for legal online gambling and Sports Betting in the state.
The agreement practically permits non-tribal gambling operators to enter Connecticut for the very first time ever. Gaming practices have up until now been limited to two tribal casinos and the state-run Lottery.
The Mashantucket Pequot Tribe was notably missing from the Tuesday announcement. State lawmakers said that there was still one financial point that tribe and the Governor’s office needed to discuss.
The Mohegans operate the Mohegan Sun casino resort in Uncasville, while the Mashantucket Pequots run Foxwoods Resort Casino. The two tribes have been paying a portion of their annual slots revenue to the state in exchange for their exclusivity over Las Vegas-style gaming.
Under the terms of the newly announced sportsbetting and iGaming deal, the Connecticut Lottery Corp. will be allowed to operate up to 15 retail Sports Betting facilities around the state and an online wagering skin.
It will also have the right to sub-license some of the above 15 sites to Connecticut’s pari-mutuel operator, Sportech.
Betting and online gambling licenses will be valid for 10 years with an option for a five-year extension. The Lottery will also establish new retail wagering locations in Hartford and Bridgeport.
Under the agreement, sports bets revenue will be taxed at 13.75%, while online gaming will be taxed at 20%. The iGaming tax rate has been supported by the Mohegan Tribe, but the Mashantucket Pequots have opposed it.
FULL STORY