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General Assembly approves new agreement with Bally’s, IGT

 

STATE HOUSE – With votes in the Senate today, the General Assembly has approved amended legislation introduced by House Speaker K. Joseph Shekarchi and Senate President Dominick J. Ruggerio to strengthen the agreement between the State of Rhode Island and IGT and Bally’s Corporation, which operates Twin River Casino in Lincoln and Tiverton Casino Hotel. The legislation will be sent to the governor.

The legislation (2021-H 5223A, 2021-S 0040A) represents an economic development investment of more than $250 million to preserve and enhance Rhode Island’s third-largest source of revenue.

“The legislation increases revenue to our state and preserves critical jobs,” said Speaker K. Joseph Shekarchi (D-Dist. 23, Warwick). “Along with the Senate, we have taken several steps to enhance the legislation on behalf of the taxpayers. I thank Senate President Ruggerio, who played a critical role in bringing the two companies together.”

Said Senate President Ruggerio (D-Dist. 4, North Providence, Providence), “The Senate Finance Committee undertook an exhaustive review of this proposal and developed legislation that protects more than 1,000 jobs, guarantees significant capital investment, and preserves the state’s third-largest revenue stream. I am grateful to Speaker Shekarchi for working to enhance the proposal to further benefit the state, and to IGT and Bally’s for their continued partnership and investment in our state.”

At the request of House and Senate leadership, key changes were added to the amended version of the legislation, including:

Although not contained in the legislation, Bally’s and IGT have agreed to raise the minimum wage for its Rhode Island employees to $13 per hour by Jan. 1, 2022; $14 per hour by Jan. 1, 2023; and $15 per hour by Jan. 1, 2024. Each of those changes occurs a year ahead of statewide minimum wage increases enacted by the General Assembly last month.

Bally’s has also agreed to open an additional Rhode Island office, outside Providence, to hire a minimum of 30 information technology professionals. Also, IGT’s commitment to a STEM scholarship fund in Rhode Island schools will be increased from $25,000 to $35,000 per year.

The bill also includes the following components, which have been part of the bill since it was first introduced in January:

The Rhode Island Division of Lotteries will continue to maintain oversight and regulation of all gaming. All aspects of the lottery and gaming programs will continue to be state-operated.

In addition, the amended legislation has been named the Marc A. Crisafulli Economic Development Act to honor the executive vice president of Bally’s, who is battling cancer.

 

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