Bally's seeks approval for online casino gaming in Rhode Island
Bally's Corporation is pushing for legislative and executive branch approval in Rhode Island for the introduction of online casino gaming.
Bally's Corporation, a well-known casino-entertainment company, has recently announced its intention to seek legislative and executive branch approval for the introduction of online casino gaming in Rhode Island. The expansion is expected to increase state revenues and better position Rhode Island casinos in New England's competitive gaming market in the long term.
At the 2023 Rhode Island Legislative Leadership Luncheon hosted by the Greater Providence Chamber of Commerce, Bally's announced its plans to introduce the online casino gaming effective from January 1, 2024, subject to the finalization of relevant regulations. The company has proposed legislation that would allow the RI Division of Lotteries to authorize online slots and table games by Bally's properties in Rhode Island, including Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel, and the state would receive a percentage of all online slots and table games revenue.
According to Elizabeth Suever, Vice President of Government Relations for Bally's Corporation, the company intends to model the proposed legislation after the one used to establish online sports betting in Rhode Island, giving the state complete regulatory control and the ability to ensure the integrity of the program, while maximizing revenue for the state.
Bally's commissioned an iGaming study conducted by Spectrum Gaming in preparation for a statewide discussion about online casino gaming, which highlighted some of the proposed legislation's merits. The study predicts that Rhode Island could generate an estimated $93.3 million of gross gaming revenue in the first year and an estimated $130.6 million in the fifth year. The proposed legislation is not expected to switch play from retail casinos to online casino gaming, thereby preserving retail casino revenues paid to the state. The study predicts that this could generate potential gaming taxes for the state of Rhode Island of $210 million over a five-year period.
In addition to the proposed legislation, Bally's plans to restrict online slot and table gaming wagers only to players who are physically present in Rhode Island at the time of their bet. Furthermore, the server-based gaming system used to process wagers would be located in a restricted area on the casinos' premises. The state would retain the authority to set terms and conditions for online slots and table gaming, including all procedures for responsible gaming, system integrity, security, operations, and accounting.
Bally's Senior Vice President Craig Eaton stated that the company views this expansion as a vital step to secure its competitive advantage and ensure critical revenue to the state. He added that despite growing competition from neighboring states, Rhode Island must keep improving its products and experiences to meet its customers where they are.
In conclusion, Bally's Corporation's proposal for the introduction of online casino gaming in Rhode Island has the potential to generate significant revenue for the state. The proposed legislation aims to give the state regulatory control over the online casino gaming program while maximizing revenue for the state. The proposed legislation, combined with Bally's commitment to responsible gaming and customer experience, could strengthen Rhode Island's position in New England's competitive gaming market.