Casino companies to expand to Connecticut
The government of Connecticut State is holding a hearing today to discuss the possibility of gaming expansion with private investments.
US.- Today Connecticut legislators are carrying out a meeting to pursue the debate on casino expansion with private investments. Currently, the gaming industry is exclusively operated by Native American Tribes but new businesses would be able to compete with neighboring Massachusetts’ MGM Springfield US$950 million casino and resort.
State’s legislators are evaluating two gaming bills to update the current regulations. Today’s meeting will focus on the benefits of expanding the industry by granting further casino licenses to private companies and Native American operating Tribes. Connecticut’s slot revenue has been threatened by MGM’s luxury casino development.
The bill proposes that companies interested in obtaining licenses would have to present projects where they can confirm they are capable of paying nonrefundable US$50 million tax for a Connecticut’s license and a total investment of US$500 million. Meanwhile, Mashantucket Pequot and Mohegan tribes are pushing the approval of an amendment to build a satellite casino in East Windsor, outside tribal lands, in the State.
“It certainly is positive if we can have guarantee of that funding one way or another,” revealed House Minority Leader Themis Klarides, R-Derby, and added: “Where all this will end up is still a question. But this piece of information, in my opinion, is very positive for the tribes.”
