PROVIDENCE – Rhode Island online gaming revenue was $3.3 million in April, the first full month of activity since iGaming launched on March 5, according to the latest report from the R.I. Lottery.
In total, there was $2 million in revenue from online slots and $1 million from table games, available to account holders 21 years old and older within state borders through a mobile app on their smartphones or desktops.
During the May 20 meeting of the Permanent Joint Committee on the State Lottery, R.I. Lottery Director Mark Furcolo said there were 9,111 customers as of May 1, averaging 149 new customers signing on daily since the launch.
There was $25.5 million on slots wagered in April and $22.5 million bet on table games. Month over month revenue was up $1.2 million, or 72% compared to March, when the state reaped $981,906 in revenues.
The largest increase was seen from table game revenue, which jumped 210%.
“We continue to have very strong momentum on igaming,” said Furculo during the May 20 hearing. “Its a steady growth track [and it's] continuing.”
Bally’s constructed a 4,000-square-foot studio on the second floor of its Bally’s Twin River Lincoln Casino where live dealers run blackjack and roulette table games. Twenty-five dealers will be simulcasted eight hours a day.
Nearly 62% of the slot revenue and 15% of the table game revenue will go to the state, which Bally’s estimates could be $210 million over five years. A separate state-backed study by Christiansen Capital Advisors LLC estimated $162 million for the same period.
As of April 30, there were 205 online slot games and 6 live tables games offered, said Furcolo. Live table games currently consist of only Blackjack, Roulette and Speed Baccarat.
There are additional table games being added this summer and there are several slot games currently in development.
On Monday Paul Grimaldi, spokesperson for R.I. Department of Revenue, said iGaming performance is in line with previous fiscal 2024 estimates, which were expected to yield $4.7 million through June 30.
The overall lottery revenue transfer to the state General Fund is projected to increase by $20.6 million in fiscal 2025 over 2024, "primarily reflecting a full year of iGaming operation," said Grimaldi.
“Momentum continues to build nicely for iGaming," he said. "Bally’s was able to add more dealer hours and products, better demonstrating the direction of the iGaming program.”
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
