Bally is aiming for legislative and executive approval at the Rhode Island General Assembly session for online casino gaming. [Image: Shutterstock.com]
Bally’s busy week continues with New York casino bidding, brand haul drama, and a massive 2022 net loss for its interactive arm, albeit with a potentially positive outcome.
plans to expand its gaming footprint in Rhode Island
The Providence-based gaming giant plans to expand its gaming footprint in Rhode Island with the implementation of online casino games.
according to GoLocalProv, Bali said on Wednesday that it will seek approval from the legislative and executive branches at this General Assembly session to get iGaming legal on-line. New England media revealed that the law will go into effect on January 1, 2024, “subject to finalization of relevant regulations”.
Bally’s claims legalizing the vertical will boost state revenues and raise Rhode Island casinos’ position in New England’s robust gaming market, where a percentage of all online gambling and table game revenue goes into state coffers.
The state is in control
Bally’s latest gambit to boost business was featured in a Greater Providence Chamber of Commerce function. The company’s proposed bill would give the Rhode Island Lottery Division (RILOT) the authority to greenlight online slots and table games hosted by Bally’s at its local properties, which include Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton casino and hotel.
Elizabeth Swiffer, Vice President of Government Relations at Bally’s, stated that her company’s intention was to base the online casino campaign on Legislation that made online sports betting operational in Rhode Island.
Giving the state “full regulatory oversight and the ability to ensure the integrity of the program”
Such an approach, Suever said, would give the state “full regulatory oversight and the ability to ensure the integrity of the program.”
In addition, the country will have the power to set terms and conditions for online slots and table games, which includes establishing rules for responsible gambling and system integrity.
Online and retail can work together
Bally was quick to allay fears that the introduction of online casino games would decimate the traditional casino revenues flowing into the country’s coffers. The company cited a recent iGaming study by Spectrum Gaming that claims that “little or no shift from play from retail casinos to online casino games is expected.”
An online casino expansion plan follows seven hectic days for Bally. On Sunday, news broke that she had joined the competition for a casino license in New York. A day later, an investment group revealed that Bally’s was looking to sell its DFS Monkey Knife Fight brand, after its North American online arm posted a net loss in 2022 of $426 million.