CTC: 15 Companies Willing to Become Sports Betting Providers
The Connecticut Lottery Commission (CLC) received 15 responses to its Request for Qualification (RFQ) as companies came forward to express interest related to the state’s sports wagering and online betting.
CTC Needs Partners
Seeking qualified and experienced operators to provide solutions for the online and retail sports wagering systems and services, the CTC issued the RFQ on April 12.
“We are pleased to see significant interest from companies who would like to partner with the CLC to bring our online and retail sports betting offering to market.”
Rob Simmelkjaer, Chairman, CTC
The CTC noted that all 15 applicants will be issued with invitations for presentations and finalists will be asked to submit a formal business plan. The lottery expects to approve online and mobile sports betting platforms and retail channels for up to 15 retail locations, among which at least one in Hartford and Bridgeport each.
“Our staff and board will now begin a process of carefully reviewing the qualifications of the submitting parties as we work towards choosing the right partner in this important initiative for our state.”
Rob Simmelkjaer, Chairman, CTC
CTC and the Tribes
A deal signed in March between Gov. Ned Lamont and the two native tribes in Connecticut, operators of the Foxwoods casino the Mashantucket Pequots, and the Mohegan Tribe running the Mohegan Sun, allowed the tribes and the CTC to exclusively provide sports wagering and online gaming in the state.
The CTC was given the right to offer online sports betting skins to partners and vendors to help it operate 15 locations statewide. The CTC also has the right to sublicense some of these locations to a state-licensed pari-mutuel gaming operator, as well as sell Keno products and draw games online.
Financial parameters of the compact deal with the tribes which needs approval from the state General Assembly and the US Department of the Interior include a tax rate of 18% for the first 5 years of commercial gaming revenue of the tribes, which will be increased to 20% for the next 5 years at least, while sports wagering will be subdued to a 13.75% tax.
Also as part of the deal, the tribes agreed to drop their plans to build a new casino resort north of Hartford, Connecticut, offering some good news for casino operators in Massachusetts such as MGM Resorts and Penn National Gaming.
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