Gaming activities provide the third-largest single source of revenue for Rhode Island. The arrival of gaming in Massachusetts puts this cash flow in jeopardy.
The owners of Twin River and Newport Grand are not sitting idly by, waiting for the competition to drive them out of business. The building of a hotel at Twin River and the plan to move Newport Grand to a new facility in Tiverton are both prudent actions that should help the facilities hold fast to their business. But as in nearly all cases in life, it pays to hedge your bets.
Thus the potential to host daily sports fantasy enterprises in Rhode Island presents another revenue opportunity, and already legislation has been proposed to make it a fact.
Still, as opportunistic as this move would be for Rhode Island, given that New York and other states are looking to make such online games illegal, it does bring to mind the risk that comes with relying on gambling revenue.
A far better long-term economic development strategy would be to help attract and develop Information Age enterprises to set up shop here. •