The governor and the tribes say the agreement will generate tens of millions of dollars in revenue to the state.
The deal also calls for a 13.75% tax rate on sports wagering.
The agreement calls for an 18% tax for the first five years of online casino gambling, followed by a 20% tax rate for the next five years. Negotiations continued with the Mashantucket Pequots. Lamont and the Mohegans, who own the Mohegan Sun, announced a deal earlier this month that excluded the Mashantucket Pequots, owners of Foxwoods Resort Casino. Department of the Interior must sign off on changes to the tribe-state compacts dating to the 1990s. In addition, a regulatory framework must be established and the U.S. The agreement requires the approval of the General Assembly, which could make changes. James Gessner Jr., chairman of the Mohegan Tribal Council, said the agreement will generate tax revenue from sports and online gaming “that are competitive with other states, to the benefit of both state and local municipal budgets as well as our tribe’s members.”
