Connecticut assumes new tax revenue from gambling to support budget

The state government hopes to reach an agreement to allow online gambling and sports betting.
The state government hopes to reach an agreement to allow online gambling and sports betting.

Governor Lamont has announced his two-year state budget proposal, which includes new tax revenue from gambling in its second year.

US.- Connecticut Governor Ned Lamont has revealed his two-year state budget backed by a forecast of $47.3m in tax revenue from gambling in its second year.

The budget assumes revenues of $47.3 million from expanded gambling, including both retail and online sports betting as well as online casino gaming, in the second year of the budget.

Lamont hopes to soon reach a deal with the tribal operators of Foxwoods and Mohegan Sun casinos to offer sports betting and online gambling in Connecticut for the first time.

Talks with the tribes have revolved around whether they would have exclusive rights to the new forms of gambling or whether other operators such as the Connecticut Lottery Corp or Sportech, which operates off-track betting, would be permitted to participate.

Lamont said: “Our neighboring states are moving forward with sports betting and iGaming, and Connecticut should not leave these opportunities for other states to benefit from our inaction.

“My administration has been in active negotiations with our tribal partners to bring the state’s gaming economy into the digital age. And I am submitting legislation which reflects what I believe to be the best bet in ending this stalemate of inaction in a way which is in the best interest of the entire state.”

Severely hit by the pandemic, the tribal casinos in Connecticut have not been contributing to state coffers, which face a $1bn deficit.

Lamont said in December: “If we found out anything in the course of this horrible Covid cycle, more and more of the world is going virtual.

“More and more of the world is going online. That’s tele-health and tele-learning, but it’s also igaming and sports betting. And I don’t think you want Connecticut left behind.”

In this article:
online gambling