Bet on it: Gov. Lamont and Mohegan Sun reach deal on sports betting, Foxwoods nears agreement
Gov. Ned Lamont and Mohegan Sun have finally reached a deal on sports betting in Connecticut after years - and Foxwoods may be close behind.
While sports betting has brought millions to states like New Jersey, Connecticut has sat on the bench - sidelined because the state and its two casinos couldn't reach a deal.
At a hearing Tuesday, Lamont's team dropped a bombshell - they have a deal.
Foxwoods and Mohegan Sun casinos will be able to offer sports betting. The Connecticut Lottery could also open 15 retail sites, including two new venues in Bridgeport and Hartford.
The state's cut is almost 14% for sports wagers and 20% for online games. Sports betting could start as early as this summer pending federal approval.
Mohegan Sun has already agreed to the terms. Foxwoods is still haggling over the state's cut of revenues, but both sides say they're "inches" away.
Mashantucket Pequot Tribal Chair Rodney Butler says in a statement, "After months of closed-door negotiations, it's offensive that Governor Lamont would announce an agreement with only one of the two Tribal Nations that have been a party to the negotiations, despite full knowledge that both sovereign Nations are needed to implement any agreement. We have participated in these discussions in good faith and consider today’s events extremely disrespectful in terms of process and substance. Now that the Governor Lamont has laid bare the confidential terms of our negotiations, you can see the significant and substantial concessions made by both Tribes. Just permitting Lottery to participate in full sports betting, absent tax or revenue share, is a major allowance. We have one remaining point of contention that is easily resolved if some sense of mutual respect is afforded for the specific needs of our tribal community. We remain open to discussions and hope this is resolved quickly for the benefit of the entire state of Connecticut.”
There's also something for off-track betting sites like Bobby V's in Stamford. They could sub-license sports betting from the lottery.
Sportech, the company that runs off-track betting in Connecticut, released a statement saying: "One year ago, Governor Lamont stated he would seek a fair resolution regarding gaming expansion involving existing gaming operators that 'must be designed to avoid and withstand endless legal challenges.' Regretfully, the Governor’s announcement this afternoon, that principally excludes Sportech from expanded gaming, leaves us with little option but to pursue legal recourse on behalf of our 400 Connecticut employees."
State lawmakers also have to agree to the deal.