Lawmakers in Rhode Island have introduced Bills that would legalise online casino gaming and poker in the state.
On May 27th, Senate President Dominick Ruggerio and Gregory Constantino announced that they had submitted two identical Bills in their respective chambers of the Rhode Island General Assembly. In a joint statement with House Speaker, K Joseph Shekarchi, Ruggerio said: “This legislation is a first step in the public review process around potential iGaming in Rhode Island. Our state casinos provide an important source of revenue to fund vital programs and investments that benefit all Rhode Islanders.
“The companies that manage casino operations on behalf of the state have made significant investments to ensure they are well positioned to thrive in the years ahead. It is imperative that we continue to explore all avenues to protect and bolster our competitive position, including the potential for iGaming.”
Both Bills propose launching online casino gaming and poker in Rhode Island from January 1st, 2024, with the levying of a 50% tax rate on slots games and 18% on table games and a clear distinction between an ‘iGaming platform vendor’ (IGT Global Solutions) and an ‘iGaming game vendor’ (Bally’s). So, in this specific case, after taxation IGT will receive 35% of slots revenue and Bally’s 15%, with IGT also receiving 35% of table gaming revenues, but Bally’s receiving 47%.
Bally’s Corporation is headquartered in the Rhode Island state capital of Providence and holds a monopoly on land-based casino gaming in the state. It owns and operates two casinos in the state, Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel. Bally’s also provides online sports betting, taxed at 51%, through its SportsBook Rhode Island website.