Lawmakers in Connecticut have approved amended compacts with the Mashantucket Pequot and Mohegan tribes that will allow them to offer sports betting, online gambling, and fantasy contests.
The legislation to amend the existing compacts was approved by a House vote of 122-21 and is expected to pass through the Senate without difficulty. The vote follows Gov. Ned Lamont’s signing of the amended compacts earlier this month.
The bill includes approval for the Connecticut Lottery Corporation (CTC) to launch online sports betting products and retail betting outlets at 15 locations across the state.
Speaking of the legislation Rodney Butler, Chairman, Mashantucket Pequot Tribe said:
“For our Tribe, gaming is about much more than business; it is a means by which we rebuild our nation, educate our children, and take care of our elders. Passage of this legislation will enable us to do just that, and more, for generations to come.”
Chairman of the Mohegan Tribal Council James Gessner Jr added that the bill passage will allow tribes in Connecticut along with the state itself to “keep pace” with neighboring states and generate new jobs for state residents while protecting those that are currently employed by the industry.
The amended compacts will see the state tax all online gambling revenue at 18% for the first five years. This will then increase to 20% for the following five years with an option to extend the compact for a further five. Revenue from sports betting and fantasy contests will be taxed at 13.75%.
The tribes have also agreed to pay an additional $500,000 per year towards problem gambling programs.