Rhode Island has ushered in an innovative era of gaming, as Bally’s Corporation opens the virtual doors to its online slots and table games, marking a pivotal expansion of igaming within the Ocean State. This digital evolution allows players aged 21 and above to indulge in approximately 170 slot games via a desktop or iOS mobile application, as long as they hold an online or mobile account with Bally’s.
A successful four-day trial preceding the public introduction of this online gaming service has set the stage for a full-scale launch. This service comes to fruition backed by the expertise of live table games purveyor Stakelogic, which facilitates the integration of live dealer and table games software as well as advanced studio technology.
Senate President Dominick Ruggerio has championed this initiative, asserting that the introduction of igaming is a strategic move to maintain Rhode Island’s pioneering stance within the fiercely competitive contours of the gaming industry.
As the seventh state in the United States to navigate the legislative path successfully, Rhode Island, on June 22, 2023, witnessed Governor Dan McKee’s assent to Senate Bill 948, thereby extending Bally’s terrestrial casino exclusivity to the realm of igaming. The bill underscores the deep-rooted partnership as Bally’s brick-and-mortar venues—the Twin Rivers Lincoln Casino Resort and Tiverton Casino & Hotel—alongside its IGT gaming supplier, are entrenched in a 20-year no-bid contract to oversee the domain’s land-based casino operations.
This legislative advancement ensures that Bally’s online segment, Gamesys, assumes the mantle of the lone operator within the state, managing various renowned brands including Virgin Casino, Tropicana Casino, and Rainbow Riches Casino. The state’s approach towards igaming, although monopolistic, is nonetheless groundbreaking. A tax structure has been outlined where revenues from online slot gaming will be subjected to a 50% tax while table games are levied with a lower 18% tax rate.
In a significant infrastructural drive paralleling the igaming initiative, Bally’s has invested in setting up a state-of-the-art 4,000-square-foot Live Dealer Table Games studio at their Twin Rivers property. These ventures are meticulously regulated by the Rhode Island Division of the Lottery, which presently also supervises the two Bally’s casinos in Rhode Island under the leadership of Director Mark Furcolo. The director is endowed with the authority to craft appropriate rules essential for the smooth functioning of igaming within the state.
On the technological front, the legislation mandates the use of geolocation technology to validate the physical presence of players within the state boundaries while engaging in igaming activities. Exceptions to this stipulation are anticipated under specific scenarios wherein out-of-state betting might be permitted if reciprocal agreements are established between Rhode Island’s regulatory body and other state regulators.
Financial reports depicting Rhode Island’s sports betting records hint at the timeliness of this igaming launch. A comparative analysis exhibits a decline in sports betting handle, wherein January numbers fell to $44.8 million from a stronger $47.9 million in December. The cumulative handle has additionally seen a contraction from $332.8 million to $267.2 million over the course of seven months within the 2024 fiscal year, compared to the same span in the previous year.
Amidst the fluctuations in sports betting, Bally’s interactive igaming sector has brought a silver lining with an 8.6% surge in revenue, amounting to $2.45 billion in 2023. This growth trajectory is particularly robust in North America where interactive revenue soared by a striking 37.8% to $112.6 million, signifying the burgeoning popularity of igaming.
Presently, igaming has established its lawful presence in six other states beyond Rhode Island: New Jersey, Delaware, West Virginia, Pennsylvania, Michigan, and Connecticut. This latest development in Rhode Island adds further dynamism to the industry as it embraces the digital diaspora of gaming.
