Officials at Bally’s Corporation recently announced they support legislation that would allow the company to offer online slots and table games in Rhode Island, hosted by Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel.
Officials said the move would boost state revenue and make Rhode Island casinos more competitive in the New England gaming market.
Bally’s Vice President of Government Relations Elizabeth Suever said, “We intend to model this after the legislation used to establish online sports betting in Rhode Island, effectively giving the state complete regulatory control and the ability to ensure the integrity of the program, while maximizing revenue for the state.”
A recent iGaming study conducted by Spectrum Gaming and commissioned by Bally’s Corporation found that under the proposed legislation, an estimated $93.3 million in gross gaming revenue would be generated in the first year and $130.6 million in the fifth year, producing $210 million in state tax revenue over five years. The study also found the legislation would have little or no impact on retail casino revenue.
Under the proposed bill, players must be physically located in the state when they place their bet. The server that would process wagers must be located in a restricted area on the casinos’ premises.
The bill would take effect on January 1, 2024, pending approvals.
