Connecticut to open casino development bidding to commercial developers
The Connecticut state legislature has held a hearing into a bill which, if passed, would open up bidding on a potential third casino development to commercial developers.
The proposed bill would require any interested party to invest at least $500,000 in their proposed development and pay a non-refundable $50m licensing fee to the state.
Ongoing negotiations had been taking place between local authorities and the two Native American tribes that run Mohegan Sun and Foxwoods, with a proposal to build a joint tribal casino in East Windsor, protecting local jobs and revenue.
The Mashantucket Pequot and Mohegan tribes, who run the state’s two casinos claim that opening up the bidding process to build a third casino in the state to commercial developers would result in losses of up to $86-million a year.
However a third Native American tribe, which has been trying to build a casino since 2000, opposed the tribes plan stating that the better deal for the state would be to negotiate with commercial developers in southwestern Connecticut.
Richard Velky, Chief of the Schaghticoke Tribal Nation said “Studies show us from Southwestern Connecticut that it has five times the value that East Windsor does; and are we going to do this for any individual group or are we doing this for the citizens and the state of Connecticut.”
Uri Clinton of MGM Resorts International confirmed MGM’s interest in building a casino in Southwestern Connecticut, saying: “MGM is interested in having access to the New York market and right now that path is through this bill.”
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