July 16, 2017 / 7:30 PM / 4 days ago

Tribal nation has contributed $4 bln to cash-strapped Connecticut since 1993

2 Min Read

July 16 (Reuters) - Connecticut has received more than $4 billion since 1993 from the Mashantucket Pequot Tribal Nation, owners of the Foxwoods Resort Casino, the tribe has announced.

The $4 billion contribution is the result of 25 years of revenue sharing during which Foxwoods has brought 340 million guests and reinvested nearly $100 million of annual tourism revenue into Connecticut, representatives for the Mashantucket Pequot said in a statement on Saturday.

The announcement comes as the state, the wealthiest in the nation, remains embroiled in a budget dispute with lawmakers attempting to tackle a $450 million revenue shortfall for the current fiscal year. The state is facing estimated deficits of $5 billion for the 2018 and 2019 fiscal years combined, according to The Connecticut Business & Industry Association.

Connecticut has a per capita income of $71,033, far above the national average, according to the Bureau of Economic Analysis. No other state has a per-capita income above $70,000, though Washington D.C.'s per capita income in $75,569.

Connecticut House Speaker Joe Aresimowicz said Friday that the state's general assembly will not be voting on a 2018 budget next week, according to reports, despite an already passed June 30 deadline to do so.

Lawmakers were aiming for a budget vote on Tuesday, one day after unionized state employees were expected to vote on the two-year, $1.57 billion concession package. (Reporting by Dion Rabouin; Editing by Andrea Ricci)

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