Following the recent legalization of igaming in Rhode Island and the last week’s technical trial, casino and entertainment giant Bally’s Corporation will launch its online casino in the state today. From now on, the Rhode Island players can use their desktop or mobile apps to initially play about 170 slots, live dealer and table games supplied by the Bally’s partnering software technology provider Stakelogic, as reported by IGB.
Senate Bill 948 Makes iGaming Legal in the State:
The launch of igaming operations is welcomed not only by local players but also lawmakers in the state. ”iGaming will ensure that Rhode Island remains at the forefront of the competitive gaming industry”, Senate president Dominick Ruggerio reportedly said. The online gaming facility will therefore include Rhode Island in the pool of six other US states with legalized igaming business: New Jersey, Delaware, West Virginia, Pennsylvania, Michigan and Connecticut. As IGB reports, the state’s governor Dan McKee signed the Senate Bill 948 into law on June 22, 2023 to enable live igaming operations in Rhode Island.
Exclusive Online Gaming Operator:
Actually, the same source reports, the law enabled only Bally’s Corporation to launch igaming in the jurisdiction. The operator holding an exclusive title over the land-based casino offerings in the state will now simply extend the monopoly to online gaming operations. As reported, Bally’s holds such an exclusive right under the 2021 law providing a 20-year exclusive contract for Bally’s and its content supplier IGT. The contract reportedly entitles the operator to run Bally’s Twin Rivers Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel, the only two land-based casinos in Rhode Island.
18% – 50% Gaming Revenue Tax Range:
For this reason, it comes naturally that today’s igaming launch will involve Bally’s online vertical Gamesys as the sole igaming operator in the state. IGB reports that Gamesys operates under multiple brands, therefore local deposits and bets may be handled by brands like Virgin Casino, Tropicana Casino, or Rainbow Riches Casino. In any case, the gaming law requests a 50% tax on online slot gaming revenue and an 18% tax on online table games revenue, according to IGB. The source further reports that Bally’s supports the kick-off of the online gaming facility from the dedicated Live Dealer Table Games studio built at Twin Rivers.
Rhode Island Division of Lottery to Regulate the Business:
As reported, the Rhode Island Division of Lottery, state gaming regulator, will also extend its coverage from Bally’s land-based facilities to the igaming operations. As foreseen by the gaming law, the regulator’s director Marc Furcolo will reportedly have the power to ”reasonably” adjust gaming rules and regulations in the state. The law also anticipates the use of geo-location technology to verify a player’s physical presence in the state. Though, out-of-state bets will be allowed in certain circumstances, according to IGB, such as the existence of the regulator’s reciprocal agreements with another state regulatory body.
Looking to Increase Gaming Revenues:
As IGB reports, the launch of igaming operations in Rhode Island is expected to ramp up the state’s financial figures. The state sports betting handle figures reportedly settled at the $44.8 million level in January to report a decline from $47.9 million level seen in December 2023. As reported by the source, the state recorded a total handle decline of 28% y-o-y in the first half of the financial year 2024 down to $267.2 million. On the other hand, Bally’s propelled its gaming revenues to $2.45 billion in 2023 to see an 8.6% revenue increase when compared to 2022. As of today, similar results are expected in the state of Rhode Island.
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