Gov. Ned Lamont and Mohegan Indians have agreed, in principle, on the legalisation of sports betting and iGaming
Connecticut is finally seeing some movement on the sports betting and iGaming front as Governor Ned Lamont (pictured) and the tribe, Mohegan Indians, have an agreement in place to legalise sports betting and iGaming.
Connecticut sports betting and iGaming agreement specifics
- Sports betting revenue will be subject to a tax of 13.75%
- iGaming revenue will be taxed 20%
- Connecticut Lottery is permitted to operate 15 retail sports betting shops and one online skin
- New Lottery-run sports betting locations - Bridgeport and Hartford
- Lottery is allowed to sub-licence limited operations to Sportech
- Sportech will not be allowed to acquire their own operations or online skins
However, the other tribal casino, Mashantucket Pequot, was missing from the agreement. The reason for this is due to Lamont's office and chairman of Mashantucket Pequot, Rodney Butler, are still negotiating some financial terms.
The agreement gives the Connecticut Lottery and OTB operator Sportech the opportunity to get involved in the state's sports betting.
Mashantucket Pequot Chairmain, Rodney Butler, was surprised at the announcement by Lamont's office and Mohegan Indians, insisting that this is a three party deal.
However, Butler is still co-operating with both parties and is hopeful for a three party agreement as he believes that the legalisation of sports betting and iGaming will benefit the state as a whole.
There is still a long way to go for the legalisation of these two verticals, especially sports betting. Connecticut is dominated by the Mohegan and Mashantucket Pequot tribal casinos as they have exclusivity in the state, and there is a debate ongoing on whether sports betting is a casino game or not.
This is an important factor in the whole procedure as if it is deemed a casino game then many operators, including the Connecticut Lottery, will be locked out of the market. Before any other positive movements can be made, this issue has to be resolved.
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