PROVIDENCE – The state’s exclusive casino operator is seeking to expand its offerings to include online gaming.
Bally’s Corp., which operates Rhode Island’s two casinos – Bally’s Twin River Lincoln and Bally’s Tiverton Casino & Hotel- announced Wednesday the company is in talks with state legislators to introduce a bill allowing customers to participate remotely in the gaming activities found at its brick-and-mortar sites, such as slots and traditional table games like poker and blackjack.
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Speaking during the annual legislative luncheon Wednesday at the R.I. Convention Center and hosted by the Greater Providence Chamber of Commerce, Bally’s Executive Vice President and General Counsel Craig Eaton said the move was intended to address increasing competition to provide greater customer choice.
“We know we have to keep improving our products and experiences,” he said. “We can’t sit still. And we need to meet our customers where they are.”
Bally’s spokesperson Patti Doyle said on Thursday that the company anticipates legislation will be introduced “in the coming weeks,” perhaps as soon as General Assembly members return from February break.
At that point, more details regarding the potential expansion- such as which gaming options could be made available and how they would be taxed – will be disclosed.
“The announcement was more about creating a framework and to begin the education [of what online gaming entails],” said Doyle.
Six states, including Connecticut, allow online gaming. And with the recent launch of sports betting in Massachusetts, the competition for betting dollars has increased.
“Bally’s always has an eye out for ways to ensure this important revenue stream remains in place,” said Doyle.
Eaton on Wednesday said the company commissioned a report to Spectrum Gaming Group, an independent consultancy, which found that online gaming could generate $93.3 million in gross gaming revenues in the first year, climbing to $130.6 million in after five years.
However, Doyle said the study assumed a tax rate of 51% for slots and 18% for table games, the cumulative industry average of rates currently in place in states where online gaming is legal.
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com
