Lottery Narrows CT Sports Betting Partner Search To 4 Operators

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CT sports betting

It appears four sportsbook operators have the inside track to the final CT sports betting skin.

Out of 15 respondents to the Connecticut Lottery‘s request for qualifications, the Lottery asked for just five to give formal presentations, Chairman Rob Simmelkjaer said at an executive committee meeting Thursday.

The Lottery specifically asked only four of the five to respond to the CT sports betting RFP, which went live Monday.

“The companies who were invited were invited primarily based on their qualifications that were presented and based on our expectation of the law, the language of the law that we expect to be in the bill to be voted on by the legislature,” Simmelkjaer said. “So we invited companies that we felt were capable of complying with that likely legislative language, as well as companies that fit with our current business strategy about how to execute sports betting in the state.”

CT sports betting language up in the air

Even though just four were specifically asked to respond, the RFP is open for anyone to answer. Those formal responses are due May 27, but that is contingent on Gov. Ned Lamont.signing legislation.

The House will introduce the bill in “fairly short order,” Simmelkjaer said. The Lottery expects to announce its partner June 10.

Simmelkjaer also added what the Lottery is looking for in a partner could change if legislative language changes. He did not get to complete the thought as technical problems interrupted the call.

For now, the Lottery expects to operate one online sports betting skin, as well as up to 15 retail locations. That is based on public details of the gaming expansion agreement the state has with its two tribal partners.

Pricing proposal breakdown

The Lottery also uploaded an addendum to the RFP, which included requests for details on “primary economic features:”

Respondents are also encouraged to include alternative revenue share figures. This includes “unique customer acquisition opportunities” or a sliding share at certain market share or revenue levels.

Mohegan expect $200M revenue for CT sports betting

The Mohegan Indians, who partnered with Kambi for their sports betting skin, think the market will hit $200 million in revenue by year five.

That is according to a breakdown provided in Mohegan’s fiscal second-quarter earnings presentation:

Connecticut will also legalize iGaming, which is typically a bigger market from a revenue standpoint. That revenue should hit $410.4 million in year five, according to Mohegan.