Mohegan and Mashantucket Pequot Tribes transfer $1 million to Department of Consumer Protection
EAST WINDSOR — The Mohegan and Mashantucket Pequot Tribes today announced that MMCT Venture, the joint company created by the tribes to save jobs and revenue in Connecticut, recently wired $1 million to the Department of Consumer Protection (DCP), as required under Public Act 17-89.
The transfer of these funds, meant to offset the state’s regulatory costs prior to the casino’s opening, is the first step in the ongoing process to finance, construct and open Tribal Winds Casino, the new gaming and entertainment facility in East Windsor.
“For the last several months, we’ve been working with the town, our design team and our finance team to get ready,” said Mashantucket Pequot Tribal Nation Chairman Rodney Butler. “Now that the issues with the Department of Interior have been resolved, we’re excited to take this step. We’ll be announcing financing and an updated construction timeline in the very near future.”
“The payment we’re making today to the state ensures that Connecticut taxpayers won’t have to pay for any costs associated with the opening of Tribal Winds Casino,” said acting Mohegan Tribe Chairman James Gessner. “Since the inception of this project, our tribes have talked about saving Connecticut jobs and revenue, and today is just the latest example of how we intend to honor our partnership with the state.”
Tribal Winds Casino is expected to employ 5,000 Connecticut residents, with 2,000 slated for hiring during construction and 2,000 permanent employees at the facility. An additional 1,000 jobs are expected at the many small businesses that will help service the facility.
Once operational, Tribal Winds Casino will boost funding by $750,000 in Bridgeport, New Haven, Hartford, East Hartford, Ellington, Enfield, Norwalk, South Windsor, Waterbury and Windsor Locks. East Windsor is expected to receive $8.5 million in new tax and mitigation funding.