A landmark moment
Seven US states now have legal online casinos up and running after Rhode Island’s iGaming market went live at noon on Tuesday. Bally’s Corporation is the operator of the state’s sole platform, allowing residents able to initially play a range of slot games, blackjack, and roulette.
It plans to expand the game library as time goes on, with baccarat to roll out before the end of March. Stakelogic is supplying the live casino games and the streams will take place at a studio on the second floor of the Twin Rivers Lincoln Casino Resort that cost about $5m to renovate.
underwent a four-day trial period before the full launch
The new online casino underwent a four-day trial period with a select number of people before the full launch to make sure that everything was running smoothly. The new platform is expected to help create up to 75 new jobs.
Anyone who is at least 21 years old and is located in Rhode Island can sign up for a Bally Casino account. This is different from the 18-year-old minimum age requirement for entering a physical casino in the state.
High hopes for iGaming
Craig Eaton, president of the Rhode Island operations of Bally’s Corporation, thanked lawmakers for pushing through legislation that will help “enhance state revenue and better position the State’s casinos in the competitive New England gaming market.”
gave Bally’s Corporation a monopoly over online operations
Governor Dan McKee signed Senate Bill 948 into law in June 2023 as no constitutional amendment or public vote was necessary for its passage. This bill gave Bally’s Corporation a monopoly over online operations, adding to its current control of the land-based commercial gambling sector.
To help ease concerns about rising addiction rates, Bally’s has to make an annual payment of $50,000 towards problem gambling prevention and $200,000 for treatment programs. The new platform also offers a wide range of responsible gambling tools, including deposit limits, caps on the length of playing sessions, as well as self-exclusion.
Big money up for grabs
Online sports betting is already live in Rhode Island; total handle reached almost $45m in January. iGaming platforms typically have much better profit margins than sportsbooks. For example, online casino revenue in New Jersey was nearly double that of sports betting revenue last year.
The state estimates that it will receive $24m in tax revenue for the first full year of legal iGaming in the state. This total could rise to $40m annually by the market’s fifth year.