R.I. Extends Contract for Lottery Provider IGT

Mon, Jul 8, 2019

Rhode Island has extended the contract with IGT for operating its lottery and sports betting for another 20 years. Under the agreement IGT will get a share of profits and commit to make $150 million in capital investments and pay the state $25 million.

The state of Rhode Island has extended the contract of IGT to operate the state’s lottery and sports betting. The contract had been set to expire in 2023,

Governor Gina Raimondo and legislative leaders announced the new agreement last week. IGT will be a share of lottery profits under the contract and in return will pay the state $25 million and make $150 million in capital investments over the next two decades. It also commits to maintain 1,100 permanent jobs in the state.

Twin River, owner of the two casinos that operate in the state, criticized the agreement, arguing that it should have been open to a competitive bid.

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