Connecticut New Casino Bill Positive for MGM Resorts

Connecticut Casino BillRecently the Connecticut House of Representatives approved legislation that would allow for new casino proposals to be submitted. 77 members were in favour of the bill while 73 were against the bill. It was a narrow margin, but the bill has finally seen the light of the day.

According to this newly approved bill, any casino operator who is looking forward to applying for a license would have to invest a minimum amount of $500 million in the project. The operator would also have to create a minimum of 2000 employment opportunities for the people concerned.

Connecticut New Casino Bill Imposes Strict Regulations

Based on this new bill, applying for a new casino license would not be cheap because the operator would have to shell out $50 million as one time licensing fee. Apart from that, the casino operator would have to pay another $5 million for processing fee which is however refundable and will be paid back if the gaming commission rejects the application for a license.

The Connecticut Senate would now look into the bill for final review and approval. This new bill is good news for MGM Resorts International as the operator is trying to build a casino in Bridgeport, Connecticut. There is a long time for the bill to get passed by the Connecticut Senate and the casino operator would have to wait patiently to see how things turn out to be.

Connecticut House Approves Bridgeport Casino Bill

This new bill has generated lousy blood amongst the Mashantucket Pequot and Mohegan tribes as they were planning to build their 3rd casino in East Windsor. The casino would challenge the $950 million casinos of MGM. The resort is in the vicinity of Springfield, Massachusetts. Both the tribes are unhappy with this new bill, and they have criticised the Connecticut government.

The New Bill Can Stop Revenue Sharing Among Connecticut Tribes

According to some gaming analysts, the new bill could stop the Connecticut tribes from sharing their gaming revenue with the state. At the moment, the tribes have the exclusive right for operating the casino in Connecticut in exchange for a certain percentage of their overall gambling revenue with Connecticut government. This new bill can set off new things that the tribes might not like at all.

It is likely that the legislators are looking forward to getting the bill passed and bear the risk for offending both the tribes and getting MGM run its casino in the state of Connecticut. MGM Resorts International is pleased with the efforts of the legislator.

Uri Clinton who is the Senior Vice President of MGM made the following statement:

We look forward to continuing this discussion and supporting the legislation as it continues to move through the legislative process. And we look forward to the Senate and governor concurring with the House so that the competitive process can begin, companies including the Tribes can put forth their proposals, and the state can determine the deal that's best for Connecticut.

Jay Stevens

Jay Stevens

Hi, my name is Adam Jay Stevens. Welcome to Top10-CasinoSites. Explore the online casino world with my site.


Related Articles

China Says No to Sports Betting in the Country

China is famous for being one of the top gambling destinations in the world, both domestic as well as gambling

The Oldest Casino of Las Vegas Golden Gate Reopens After Major Renovation

The Golden Gate Casino in Las Vegas reopened on 25th of August 2017 after extensive renovation work. It is to

JP Morgan Praises Aristocrat for Mobile Game Diversification

The reputed banking organisation JP Morgan in its recently published report has praised Aristocrat Leisure Ltd for expanding its mobile

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

<

Right Menu Icon