The group of lawmakers has named the new bill as the Connecticut Jobs and Revenue Act. The bill claims to further strengthen the ties between the state and the Mohegan and Mashantucket Pequot tribes.
“If the goal of the debate around gaming is to maximize the number of jobs and the amount of revenue for Connecticut, then this bill is the solution,” said Sen. Cathy Osten, a Democrat who represents Sprague.
“This legislation will deepen our partnership with two of our biggest employers and our large single taxpayers – the Mashantucket Pequot and Mohegan tribes. With slot revenues showing a steady and gradual decline because of increased competition, we can’t afford to kick the can down the road. The time to act on this legislation is now.”
Rep. Christopher Davis said: “When it comes to our state’s gaming industry, we’ve got two simple choices – do nothing and let the increase in competition continue to erode our state’s revenue, or take action and create new jobs and new sources of revenue.”
“The proposal being presented [Wednesday] takes action and doesn’t pit Connecticut communities against each other. I’m proud to lend my support.”
The new bill would authorize a casino establishment in Bridgeport and seek a minimum investment of $100 million from the tribes. The lawmakers have confirmed that there would be no taxpayer money involved.
While the total cost of the gambling establishment is estimated $300 million, it is expected that the new casino would chip in $15 million in tax revenue annually.
Moreover, according to the proponents of the gambling expansion bill, the Bridgeport casino is expected to create 500 permanent jobs and 1,000 construction jobs.