Senate President, Rep. Costantino to introduce iGaming legislation
President of the Senate Dominick J. Ruggerio and Rep. Gregory J. Costantino are submitting legislation (2023-S 0948) today to permit online casino gaming. The legislation, requested by Bally’s Corporation, seeks to enhance state revenue and better position the state’s casinos in the competitive New England gaming market.
“This legislation is a first step in the public review process around potential iGaming in Rhode Island,” said President Ruggerio (D-Dist. 4, North Providence, Providence) and Speaker K. Joseph Shekarchi (D-Dist. 23, Warwick). “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, much of which was required under legislation we sponsored known as the Marc A. Crisafulli Act. It is imperative that we continue to explore all avenues to protect and bolster our competitive position, including the potential for iGaming.”
As with all gaming operations, the state would retain complete regulatory control of iGaming if it were to be enacted.
A recent study commissioned by Bally’s Corporation estimates that the state could generate an additional $93.3 million of gross gaming revenue in its first year, and as much as $130.6 million in its fifth year of operation, or a potential $210 million in gaming taxes for the state over a five-year period. They anticipate little to no switching of play from in-person at retail casinos to online gaming.
“The Senate and House Finance Committees will now begin a rigorous public review process during which all aspects of the proposal will be thoroughly examined, including proper protections,” noted the President and Speaker.
Representative Costantino (D-Dist. 44, Lincoln, Smithfield, Johnston), represents the district where Bally’s Twin River is located in Lincoln.