CT sports betting finally has an agreed-upon roadmap after Gov. Ned Lamont came to an agreement today with the Mashantucket Pequot.
The operator of Foxwoods casino initially was left when Lamont and the Mohegan tribe announced they came to terms earlier this month. That upset Mashantucket Pequot chairman Rodney Butler, who said his tribe still had sticking points to negotiate.
Lamont signaled a deal was coming soon at a press conference Monday, suggesting the big issues were out of the way.
According to the new deal that allows Connecticut sports betting and iGaming pending legislative approval, it seems Butler at least partially got his ask.
New CT sports betting, iGaming agreement details
The new agreement keeps CT sports betting details the same:
- Sports betting revenue will be taxed at 13.75%.
- The Mohegan (partnered with Kambi), Mashantucket Pequot (partnered with DraftKings Sportsbook,) and Connecticut Lottery get online skins.
- Along with its online sportsbook, the Lottery can also operate 15 retail sports betting locations. Those locations can be sublicensed to current provider Sportech.
- The Lottery will also build new retail sports betting venues in Bridgeport and Hartford.
- The agreement is for 10 years with a five-year extension option.
New details include the iGaming tax rate changing to 18% for the first five years. It then jumps back to the original 20%. That was one of the issues the Mashantucket Pequot continued to push on, the governor’s office confirmed Monday.
Also included in the new deal is the expansion of lottery and keno games online. The two tribes also agreed to postpone development of a proposed casino in East Windsor for the length of the agreement.
Next steps for Connecticut
The agreement between the state and the two gaming tribes is a significant step, but it’s not the final one.
Updated compacts need to be approved at the federal level. A bill formally legalizing the proposed changes also needs to pass through the state legislature.
The updated announcement provided no timeline for when CT sports betting might launch.