Lottery Narrows CT Sports Betting Partner Search for 4 operators
It appears that four sports betting operators have the insider route to the final CT Sports betting skin.
Out fifteen Interviewed the Connecticut lottery‘s application for qualification, asked the lottery only five Make formal presentations, Chairman Rob Simmelkjaer said at a meeting of the Executive Committee Thursday.
The lottery specifically asked only four of the five to respond to the CT Sportsbook RFP that went online Monday.
“The invited companies were invited primarily because of their presented qualifications and our expectation of the law, the language of the law that we expect to be included in the bill that legislators will vote on,” said Simmelkjaer. “So we’ve invited companies that we believe are able to comply with this likely legislative language, as well as companies that are in line with our current business strategy for conducting sports betting in the state.”
CT Sports Betting Language in the Air
Although only four were specifically asked to answer, anyone can answer the RFP. These formal responses are due May 27thbut that depends Gov. Ned Lamont.signing legislation.
The house will introduce the bill in “a fairly short time,” said Simmelkjaer. The lottery expects to announce its partner the 10th of June.
Simmelkjaer added that what the lottery is looking for in a partner could change if the legislative language changes. He couldn’t complete the thought as technical problems interrupted the call.
Currently, the lottery expects an online sports betting skin to be operated as well up to 15 Retail locations. This is based on public details of the gaming expansion agreement that the state has signed with its two tribal partners.
Breakdown of the price proposals
The lottery also uploaded an addendum to the RFP which included requests for details on “primary economic characteristics”:
- The minimum capital investment for retail without system equipment.
- The maximum deduction of annual costs (including and excluding marketing and promos) from gross gaming revenue prior to the calculation of revenue sharing.
- The guaranteed minimum sales share for each year of ten years License if it is higher than the minimum acceptable sales percentage of the lottery. The lottery wants a minimum of $ 5 million in the first year and $ 10 million in years two to ten.
- A clear example of the proposed sharing of revenue. Simmelkjaer said he expected the revenue sharing percentage to be “very competitive”. Nearby New Hampshire gets 51% of revenue DraftKings Sports Betting. Sports betting bidders in new York must offer at least a 50/50 Splits.
Respondents are also asked to provide alternative revenue sharing figures. This includes “unique customer acquisition opportunities” or a sliding portion of certain market shares or sales levels.
Mohegan expects CT sports betting to generate $ 200 million in revenue
The Mohegan Indianswho worked with warehouse For your sports betting skin, think that the market is going to beat $ 200 million Sales up to the fifth year.
This is evident from a breakdown given in Mohegan’s earnings presentation for the second quarter of the fiscal year:
- Year 1: $ 119.5 million
- Year 2: $ 144.8 million
- Year 3: $ 166.6 million
- Year 4: $ 186.6 million
- Year 5: $ 205.2 million
Connecticut will also legalize iGaming, which is typically a larger market in terms of revenue. These revenues should hit $ 410.4 million fifth year after Mohegan.