PROVIDENCE – Online casino gaming will go live in Rhode Island next month.
Speaking Thursday during the Greater Providence Chamber of Commerce’s annual Legislative Luncheon at the R.I. Convention Center, Marc A. Crisafulli, chairman of Bally’s Rhode Island’s board of directors, said the casino operator said the casino operator “will do a soft launch next month … [allowing] our Rhode Island patrons to play table games and slots remotely in a regulated manner.”
The expansion to online gaming is part of a plan to diversify operations in light of increasing competition both in the region and globally, Crisafulli said.
“We need a lot of investment capital to do all of the things we are trying to do,” said Crisafulli. “We hope to engage in a conversation on regulatory framework to allow us to structure our balance sheet in a responsible way to enable us to continue to grow. Growth globally is great locally.”
Bally’s spokesperson Patti Doyle on Friday said the company is partnering with the Netherlands-based gaming platform Stakelogic, which recently secured its operator's license from Rhode Island regulators.
Asked what the "soft launch" would entail, Doyle said “We’ll have more to say about components of the launch [and] hours of operation as the date draws closer."
According to a Feb. 13 Stakelogic press release, the company has a portfolio of more than 250 slot games and two live casino studios in Europe, “as well as state-of-the-art live dealer technology.”
Bally's intends to offer online live casino games such as Blackjack, Roulette and Baccarat.
Stephan van den Oetelaar, CEO of Stakelogic, said in a statement the Rhode Island deal is part of a “strategy to be at the forefront of the online casino industry in North America.”
“Gaining the Rhode Island license is a significant achievement in our ongoing U.S. market journey,” he continued. “We are grateful to the Rhode Island regulators for their trust and cooperation and look forward to making a positive impact on the local gaming scene.”
R.I. Lottery spokesman Paul Grimaldi confirmed that iGaming will launch March 1 with live dealers, “with additional capacity to follow.”
In February 2023, Bally’s told legislators the expansion could bring $210 million into state coffers over five years. A separate state-backed study by Christiansen Capital Advisors LLC estimated $162 million for the same period.
CCC's updated projections in November 2023, reporting a full year iGaming “ramp up” to 2026 would net $97.7 million in total revenue and assumed a growth rate of 15% in revenues for fiscal 2027; 10% in fiscal 2028; 5% in fiscal 2029; and 3.5% in fiscal years 2030 to 2032.
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nline slots will be taxed at 61% with a 15% levy on table games, according to the legislation. Bally's is the sole active casino operator in the state but was allowed to partner with third-party iGaming platforms, similar to the sportsbook run by IGT and William Hill U.S.
“We realize the fortunes of Bally’s Rhode Island and the state budget are tied,” said Crisafulli. “We rise and fall together.”
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
