By
Jerry Smith
Staff Writer Updated: 06/05/2024
Jerry’s greatest advantage is his extensive experience on the casino floor. His time as a casino manager taught him everything about what makes a player tick. Besides being a skilled poker player, he has deep knowledge of all live table games and gambling regulations in the US.
Bally’s Wants to Up Gambling Credit
It has been reported that a new bill that has been gaining momentum in Rhode Island’s legislative chambers could see the gambling credit limit at the state’s two Bally’s-operated casinos doubled. This could take the gambling credit limit from $50,000 to $100,000.
Led by Senate President Dominick Ruggerio and supported by Bally’s representative Elizabeth Suever, the proposal has led to various discussions among stakeholders and lawmakers.
Bally’s officials have said that the move takes responsible gaming into consideration in various ways. Suever stated that the operator would not be extending lines of credit to those who would not be able to repay it. In addition, it would only apply to in-person gambling and not online.
However, many people have expressed concerns about the increased credit limits, and the impact it could have when it comes to problem gambling and debt levels.
Rhode Island’s state-run casinos are operated by Bally’s, and they play a key role in the state’s economy, ranking as the third-largest revenue source, according to reports. Projections have estimated a huge $428.8 million in gambling revenue this year, making the proposed credit limit hike an even more important issue for both taxpayers and policymakers.
At a recent hearing, there were no representatives from the Rhode Island Lottery and the Council on Problem Gambling. This led to speculation over the timing and process of the bill’s introduction.
A spokesperson for Ruggerio said that the bill was introduced after Bally’s made a request in a bid to keep up with competition from Connecticut and Massachusetts casinos. Suever said:
As the operator of the two casinos for the state of Rhode Island, we’re doing everything that we can to be regionally competitive. By that I mean competitive with those casinos that are in Connecticut, which are some of the largest casinos in the United States, and Massachusetts.
However, there have been concerns regarding Bally’s capacity to effectively monitor the gambling habits of both online players and patrons visiting tribal casinos nearby. According to The Providence Journal, key stakeholders are looking at the broader implications of the legislation. This includes its potential impact on problem gambling and regulatory oversight.
The push to increase the gambling credit limit in Rhode Island comes amid stiff competition from neighboring states. Suever claimed that complaints had been received from players about disparities in credit limits between Rhode Island and Massachusetts, where there are no constraints in place.
It was also pointed out that Connecticut’s tribal casinos have independent control over their credit limits, which officials said has added increased pressure on Rhode Island to increase their credit limit to remain competitive.
Suever stated that the proposed increase to $100,000 would primarily benefit a select group of high-stakes players who prefer not to carry large sums of cash while visiting the casino. She also stated that the increased gambling credit limit would apply exclusively to in-person gambling and would not apply to online gaming.
Jane ShawNovember 20, 2024Read More
Jerry SmithNovember 18, 2024Read More
Jane ShawNovember 15, 2024Read More
Jane ShawNovember 13, 2024Read More