Rhode Island marked a significant milestone in the evolution of digital gaming in the United States last week by becoming the seventh state to legalize online casino gaming, also known as igaming.
Bally’s Corporation made a landmark announcement about the launch of its online casino in Rhode Island just last week. This development comes nearly eight months after the state formally legalized igaming. The platform promises to offer a rich array of gaming options, including approximately 170 slot games and a variety of table games, accessible to players via desktop or an iOS mobile app. The broad spectrum of offerings is set to cater to the diverse preferences of gamers, ensuring a comprehensive and immersive gaming experience.
The introduction of igaming in Rhode Island is a testament to the state’s commitment to remaining at the forefront of the competitive gaming industry. This initiative is not merely about expanding the gaming ecosystem but is also a deliberate effort to foster innovation and growth within the industry. Rhode Island’s approach to regulating online casino gaming is particularly noteworthy. The state has established a regulatory framework that vests the Rhode Island Division of the Lottery with the authority to oversee igaming operations. This regulatory body, which already oversees the two Bally’s casinos in the state, is tasked with ensuring that the igaming platform operates within the confines of the law, providing a safe and fair gaming environment for all participants.
The state has implemented a tax structure for online slot revenue, with 50% of the proceeds going to the state and the remainder divided between Bally’s and its gaming supplier, IGT. This revenue-sharing model is expected to contribute significantly to the state’s coffers, providing vital funds that can be reinvested into the community. Additionally, the lower tax rate of 18% on table games revenue underscores the state’s commitment to fostering a thriving igaming ecosystem.
Rhode Island’s foray into legalized online casino gaming represents a significant leap forward in the state’s gaming industry. By offering a regulated, secure, and diverse gaming platform, the state stands to reap numerous benefits, including increased revenue, enhanced competitive positioning, and the potential for innovation and growth within the industry.
