(Hartford, Conn./WTIC) - Governor Lamont and the state's two Native American tribes have announced a deal modernizing gaming options in Connecticut.
The Mashantucket Pequot and Mohegan tribes have agreed to a deal with the state that would allow for sports wagering and online gaming.
Lamont says the deal will create tens of millions of dollars in revenue and keep the state competitive with gaming in neighboring states.
Among the highlights of the deal:
-An 18 percent tax rate for the first five years on new online commercial casino gaming (or “iGaming”) offerings, followed by a 20 percent tax rate for at least the next five years
-A 13.75 percent tax rate on sports wagering
-Connecticut Lottery shall have the right to operate 15 retail sports betting locations, as well as operate an online sports betting skin
-Connecticut Lottery shall have the right to sublicense locations to the state-licensed parimutuel operator
-Connecticut Lottery will undertake new retail sports betting venues in Hartford and Bridgeport
-License agreement to be for ten years with a five-year extension option
-Expansion of iLottery and Keno through the Connecticut Lottery Corporation, including the sale of draw tickets online
-Both tribes agree to halt development of an East Windsor casino through the duration of this agreement
The tribes are expected to have more to say during a 1:00 p.m. virtual media availability.