By
Jane Shaw
Senior Editor Updated: 03/18/2024
We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.
Rhode Island Offering Regulated Online Casino Games
It has been revealed that Rhode Island has become the seventh state in the United States to legalize and regulate online casino gaming. This includes the launch of online interactive slot machines and live dealer table games. It marks a significant step forward when it comes to the state’s gaming industry.
Bally’s is the sole operator of casino gambling in Rhode Island, and it recently unveiled its iGaming platform, which came as good news for fans of online gaming.
The online Bally’s Casino platform boasts an initial range of 170 slots, along with live dealer blackjack and roulette. It aims to provide an exciting and immersive gaming experience for remote players. Players also have the opportunity to interact with dealers through a built-in chat tool.
In terms of taxes, the state stands to reap the financial rewards of online gaming. Gross gaming revenue from online slots will be subject to a 62 percent state tax, while table game winnings will be taxed at 15 percent, which all adds up to a significant revenue stream for Rhode Island.
To take part in online gaming, players must be at least 21 years old and must be located within Rhode Island’s borders. The launch of the Bally’s Casino online platform follows a successful four-day technical trial period with guests, which was designed to ensure a seamless and reliable user experience.
Bally’s operates Rhode Island’s two brick-and-mortar casinos, Bally’s Twin River Lincoln, and Bally’s Tiverton. The gaming giant said that the iGaming expansion was a mutually beneficial venture for both the state and the gaming industry.
Lawmakers who spearheaded the iGaming expansion are expecting huge financial gains for Rhode Island, projecting around $24 million in new tax revenue during the platform’s first full year of operation. This figure is expected to rise to nearly $40 million by the fifth year.
Speaker K. Joseph Shekarchi said:
This is a wonderful example of how the legislature and the private sector can work together to develop initiatives that enhance state revenues, which in turn, benefit our taxpayers.
Senate President Dominick Ruggerio also spoke about the significance of online gaming in maintaining Rhode Island’s competitiveness in the gaming industry while providing a vital revenue stream for the state.
Alongside the financial benefits, the iGaming expansion is expected to create job opportunities. In exchange for the enhanced gaming offerings, Bally’s has committed to constructing a 4,000-square-foot live dealer table game studio in Lincoln. This could result in the creation of around 75 full- and part-time positions.
Despite Rhode Island’s entry into the iGaming market, the sector still remains relatively small, with only seven states having legalized and regulated online casino gaming. These are Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, West Virginia, and Rhode Island
It was also pointed out that iGaming represents a lucrative market with high profit margins. In New Jersey, the industry has generated huge amounts of revenue, which shows the potential for growth and profitability within the iGaming sector.
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