The Mashantucket Pequot and Mohegan Tribes, in their continuing effort to preserve jobs and revenue in Connecticut, today released a rendering of their planned East Windsor entertainment and gaming facility. The two tribes also outlined the benefits of Senate Bill 957, which would include a massive infusion of funding to assist the state's tourism industry.
The proposed development will be a world-class, 200,000 square foot gaming and entertainment facility with 2,000 slot machines and 50 to 150 table games. As SB 957 stipulates, the facility would pay a 25% tax on its slot machines and a 25% tax on its table games, on par with Massachusetts tax rates. The table game tax rate will be split, with 10% of the revenue going directly to the state and 15% going to support state tourism initiatives.
Under those parameters, the bill could add as much as $10 million to the state's annual tourism promotion budget. According to the Connecticut Department of Economic and Community Development, Connecticut’s “$14 billion tourism industry… supports 80,000 direct jobs.”
“Tourism is a critical part of Connecticut’s economy, but financial constraints have kept our state from doing all it can to grow this industry,” said Rodney Butler, Chairman of the Mashantucket Pequot Tribe. “This bill will be a boon to the many thousands of businesses across Connecticut that rely on attracting new visitors.”
MMCT Venture was created to preserve jobs and revenue in the state of Connecticut. To learn more, go to www.ctjobsmatter.com