Connecticut Governor Ned Lamont has reached an agreement with the Mohegan Tribe that will allow the state to modernise its gaming options, including the introduction of online gaming and sports wagering.
The ten year agreement, with a five year extension option, comes less than a month after Lamont threw his support behind the full legalisation of sports betting and igaming within the state, both on and off tribal lands.
The agreement, says the governor’s officer, would generate tens of millions of dollars in new revenue for the state, while keeping the region competitive with gaming changes currently being offered or considered in neighbouring jurisdictions.
Designation would also be given to the Connecticut Lottery Corporation as a partner, which would gain the right to operate 15 retail sports betting locations, with Hartford and Bridgeport stipulated as two such undertakings, as well as an online sports betting skin.
“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,” Lamont explained.
“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.”
Further key components of the agreement include a 20 percent tax rate on new online gaming offerings, and a 13.75 percent tax rate on sports wagering.
“The Mohegan Tribe is proud to have reached this agreement with Governor Lamont and the state of Connecticut,” James Gessner Jr, Mohegan Tribe chairman, commented.
“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.”