Connecticut Governor Ned Lamont has finalized amendments to Foxwoods operator the Mashantucket Pequot Tribe’s gaming compact, paving the way for sports betting and online casino in the state.
The news follows a similar agreement with Connecticut’s other exclusive gaming rights holder, the Mohegan Tribe, that was announced earlier this month.
The new agreement, covering both tribes, features some minor amendments to that deal.
Though online casino gaming was initially set to be taxed at 20% in the Mohegan Tribe’s deal, it will now be taxed at 18% for the first five years and 20% thereafter for both operators. Sports betting will continue to be taxed at 13.75%.
The Connecticut Lottery would also be allowed to offer sports betting under the agreement, at 15 retail locations and one online skin. The Lottery would also be allowed to sell draw tickets online.
The tribes had also previously planned to jointly build a casino in East Windsor, but under the agreement this would be suspended.
“We’re proud of this landmark agreement with the State of Connecticut that cements a historic moment for our Tribal Nation,” Mashantucket Pequot Tribal Chairman Rodney Butler said. “This agreement bolsters the state’s economic development and growth, and allows us to develop a stable economic foundation for the future of our tribal community.”
The tribe is well-placed to expand into new verticals, having struck a deal with DraftKings to launch real-money betting and daily fantasy sports late in 2020.
“Connecticut is on cusp of providing a modern, technologically advanced gaming experience for our residents, which will be competitive with our neighboring states,” Lamont said.
“Our state’s tribal partners have worked with my administration thoughtfully, deliberately, and in a constructive fashion for the past few months, and we have achieved an agreement that is best for Connecticut residents and their respective tribal members.
“We will work to see it ratified and look forward to doing so through a collaborative effort, to include working with elected leaders in the General Assembly.”
In January of this year, Lamont confirmed his intention to launch betting and igaming in order to make sure the state does not “surrender these opportunities to out-of-state markets”.
Connecticut legislators then put forward a bill that would allow both tribes to offer sports betting at their venues and online, as well as permitting the state lottery to offer online ticket sales and keno.
Today also saw the Mashantucket Pequot Tribe appoint Jason Guyot as its permanent chief executive. Guyot had been serving in the role on an interim basis since April 2020.
Meanwhile, Mohegan Gaming & Entertainment announced Mario Kontomerkos is to step down as its chief executive at the end of the month.