Rhode Island became just the seventh state in the nation to launch online casinos and is the first state to do so since Connecticut launched iGaming in October 2021.
The inclusion of Rhode Island in this roster of states is poised to have a positive effect on US gaming revenue. In 2023, this figure exceeded the $5 billion threshold.
Mission Accomplished
Rhode Island is now just the seventh state to adopt online casino gambling, and the revenue projections according to Christiansen Capital Advisors estimate $11.7 million in adjusted gross revenue for fiscal year 2024 which will generate $5.85 million for the state in tax receipts. But once the market gets up to speed, FY 2025 will produce a full year of iGaming wagering, equating to $56.6 million in adjusted gross revenue which will deliver $28.1 million back to the state.
Rhode Island Senate President Dominick Ruggerio, the leading proponent of online casino gambling in the state and author of Senate Bill 948, said, “I was proud to sponsor the legislation authorizing iGaming in Rhode Island, and I am excited for its implementation. iGaming will ensure that Rhode Island remains at the forefront of the competitive gaming industry, reinforcing a critical revenue stream for the state while providing an alternative form of entertainment.”
Bally’s Monopoly
Similar to William Hill’s operation of the state lottery’s Sportsbook Rhode Island as the only mobile sportsbook, iGaming in the Ocean State is the sole province of Providence-based Bally’s after its launch last week.
Craig Eaton, president of Bally’s Rhode Island Operations, said, “As with all gaming operations, the State will retain complete regulatory control of iGaming, with nearly 62% of the slot revenue and 15% of the table game revenue directed to the state.”
Bally’s currently operates two land-based casinos in Rhode Island including Bally’s Twin River Casino Resort in Lincoln and Bally’s Tiverton Casino & Hotel in Tiverton. But unlike its brick-and-mortar establishments that allow those 18 and over to wager, the online casino version will have a minimum age of 21 to gamble over the internet.
Table games will include Roulette, Blackjack, Baccarat, Big Six, Craps, Poker, and Paigow. Live dealer blackjack and roulette games will emanate from Bally’s newly constructed 4000 square foot studio at its Lincoln facility and will offer 170 virtual slot games. A total of 75 full and part-time jobs will be created to maintain the new entry into Rhode Island’s gaming market.
Gaming In the US
The revenue generated from online casino wagering in the first ten months of 2023 surpassed the entire sum of 2022, amounting to an impressive $4.8 billion. While online sports betting has swiftly gained popularity across the United States, its counterpart, iGaming, has seen slower adoption, legalized only in six states: Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia.
This surge in revenue has also translated into substantial tax contributions, totaling an impressive $106.8 million for the month, contributing to a cumulative 2023 total just shy of $1 billion. New Jersey led the pack among the six states, achieving its highest monthly revenue ever with $166.8 million in adjusted gross revenue in October 2023.
Michigan followed closely, surpassing the $160 million mark for the second consecutive month. Pennsylvania also posted impressive figures, with operator winnings reaching $154.8 million—a historic achievement, breaking the $150 million barrier in consecutive months.
With Rhode Island launching online casino gaming early in the year and ongoing legislative discussions in several other states, the industry’s momentum shows no signs of waning.
