Connecticut tribes to share casino revenue
Two tribes with the intention of building a third casino outside tribal land offered to share their casino gaming revenue with the state.
US.- The Mashantucket Pequot and Mohegan officials sent a letter to Connecticut’s Governor Daniel Malloy, along with one for the Attornet General and state legislators, in order to inform them their offering to give the state a 25 percent cut of their gaming revenue.
The tribes are seeking the permission to build a casino off tribal land in the north of the state in East Windsor. The latest gaming venue would directly compete with neighbor MGM Resort International’s US$950 million casino in Springfield, Massachusetts. The gaming project has been backed by the State’s General Assembly as it would help to maintain the tourism industry’s rates as well as increasing the local revenues by generating job positions and business opportunities.
The General Assembly has also urged legislators to approve the measure soon. The proposal includes the 25 percent cut of revenue, the same amount the other two casinos operated by the tribes, Mohegan Sun and Foxwoods, give the state. The tribes would also collaborate with an extra 25 percent of table games revenue.
“The tribes are committed to guaranteeing our existing slot revenue arrangement with the state and are proposing compact amendments that will ensure those revenue streams are preserved,” said the letter. Earlier this week, House Speaker Joe Aresimowicz said that the proposal as a 50-50 chance to end up in a voting during this legislative session.
