“It's an agreement to go through a process that accounts for the money, distributes the money, and does it in a certain timeframe in a certain formula,” said Freimuth, as reported by CT Post. In conjunction with the Connecticut Lottery Corporation, the CRDA will oversee the management of the facility. Michael Freimuth, Executive Director of the CRDA, described the agreements as establishing a clear process for accounting, distributing, and timing the funds. The CRDA board members have greenlit arrangements with the state's budgeting body that will redirect gambling profits from the venue to the CRDA itself, which manages the XL Center, rather than the state coffers. The Capital Region Development Authority (CRDA) has approved a range of agreements to ensure that revenue generated from sports betting at the XL Center will be reinvested in maintaining the financially struggling multi-purpose arena and convention center.

Connecticut's XL Center in Hartford could soon become a hub for sports betting with a target launch date of September 1, following a series of key decisions and votes made this week.

Xl center for casinos