CT Sports betting finally have an agreed roadmap afterwards Governor Ned Lamont came to an agreement with the Mashantucket Pequot.
The operator of Foxwoods Casino was initially abandoned when Lamont and the Mohegan The tribe announced that they had come to terms earlier this month. This surprise Mashantucket Pequot Chairperson Rodney Butlerwho said his tribe still had sticking points to negotiate.
Lamont signaled that a deal would come soon at a press conference MondayThis suggests that the big problems weren’t in the way.
After the new deal that allows Connecticut sports betting and iGaming By the time legislation is approved, Butler appears to have received at least part of his request.
New CT sports betting, iGaming agreement details
The new agreement retains the details of the CT sports betting:
- Income from sports betting is also taxed 13.75%.
- The Mohegan (partner of camp), Mashantucket Pequot (along with DraftKings Sports Betting,) and Connecticut lottery Get Skins Online.
- In addition to online sports betting, the lottery can also be operated 15th Retail sports betting locations. These locations can be sub-licensed to the current provider Sports.
- The lottery will also build new sports betting retail stores in Bridgeport and Hartford.
- The agreement is for 10 Years with a five years Expansion option.
Among the new details is the change to the iGaming tax rate 18% for the first five years. It then jumps back to the original 20%. This was one of the issues the Mashantucket Pequot pushed ahead, the governor’s office confirmed on Monday.
Also included in the new deal is the expansion of the lottery and Keno Play online. The two tribes also agreed to postpone the development of a planned casino in East Windsor for the duration of the agreement.
Next steps for Connecticut
The agreement between the state and the two game tribes is a significant step, but not the last.
Updated compacts must be approved at the federal level. A bill for the formal legalization of the proposed changes must also be passed by the state parliament.
The updated announcement did not include a schedule for the launch of the CT Sportsbook.