Lawmakers in Rhode Island recently passed the state’s iGaming bill into law. It was subsequently sent to Governor McKee for approval. The governor decided to sign the bill just before the deadline, allowing online slots and table games to become available in the state starting in April 2024.
The new law grants Bally’s, the current monopoly holder of land-based casinos in Rhode Island, the exclusive rights to operate iGaming in the state. Bally’s online arm, Gamesys, will be the sole operator, offering popular brands like Virgin Casino and Tropicana Casino. The law includes a 50% tax on online slot revenue, with the remaining funds being divided between Bally’s and IGT. Table games will be subject to a lower 18% revenue tax.
Rhode Island’s Division of the Lottery will regulate the iGaming industry, with the director, Mark Furcolo, responsible for establishing reasonable rules and regulations for the sector. The law also requires the use of geolocation technology to ensure that players are physically located within the state. However, there are provisions allowing betting outside the state when a reciprocal agreement is in place with another state regulator.
Currently, online casino gaming is legal in only six states: New Jersey, Delaware, West Virginia, Pennsylvania, Michigan, and Connecticut. The potential revenue generated by online casinos is often seen as surpassing that of sports betting, which is regulated in a larger number of states.