More money, more problems? Not in the Ocean State. Rhode Island’s Senate President said that the unexpected move by the state to legalize online casinos this year is essentially, all about the money.
Dominick Ruggerio made the claim during a casual conversation with PlayUSA. He hinted at a looming budget shortfall, thanks to the pandemic relief funds from the federal government running low. His plan? He’s eyeing the revenue from Rhode Island online casinos to help plug that gap.
He said, “The cash flow from the federal government during COVID is dwindling, and we need to find a new income source.” Guess what he’s thinking? iGaming! He believes it could be a serious money-maker.
Ruggerio got candid about this during the National Council of Legislators from Gaming States conference in Denver last month. He was on a mission there, exploring how Rhode Island could boost its revenue by opening up the gaming sector even more. It seems like this might be their next big thing. That’s because he thinks Rhode Island can generate $220 million from online casino tax revenue in the next five years.
Ruggerio Wants the Same Approach as Sports Betting
Rhode Island was the first off the blocks to talk about sports betting after the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018. And it was Ruggerio who was driving the conversation.
He feels the state got a leg up by being an early adapter with Rhode Island sports betting, especially compared to its neighboring states. His idea now? Do the same thing with online casinos.
Online Casino Bill Moving Fast
So when Bally’s, which runs a pair of casino properties in Rhode Island, showed up with a plan for internet gaming, Ruggerio jumped right on board. He went ahead and filed SB 948, and before you knew it, they got it passed within just a couple of months.
The bill would permit Bally’s to offer online games through the IGT platform, which operates in brick-and-mortar casinos in the state. Ruggerio explained that it was passed quickly because he wanted to beat Massachusetts and other (surrounding) states to the punch this year.
Tweaks to SB 948 Already Made
Lawmakers did have to iron out a few wrinkles, first.
For instance, to keep it all legal under the state’s gaming laws without needing to change the constitution, they tweaked the legislation. Now, online slots and table games can only be played with a live dealer on the actual casino property. Also, despite the minimum age for online sports betting being 18 in Rhode Island, they’ve made it 21 for online casinos.
Next Steps For Rhode Island Online Casinos
Rhode Island is getting closer to making online casinos legal. However, this year, attempts to pass laws about online gaming haven’t worked out in several states, like New York, New Hampshire, Illinois, and Indiana.
The amended version of SB 948 was passed by a Senate Special Legislation and Veterans Affairs Committee in June. If the measure clears the Senate, it moves to the House for consideration.
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