Rhode Island Opens Second Sportsbook to Public

Sports betting will commence at a second sportsbook in Rhode Island, as Twin River Casino inaugurates another venue in Tiverton, near the Massachusetts border.

The Ocean State is complementing the number of legalized betting parlors across the United States, since the second formal opening in less than two weeks represents an unprecedented growth rate for its gaming industry.

In addition, the latest gambling establishment is the first New England casino to accept wagers on sports events. The property succeeded Newport Grand Casino, whose 42-year long history ended in August 2018, when the company’s management handed off its license.

With a collection of 1,000 slots, 32 table games and 84 rooms, the asset symbolizes a new dawn for the state’s legal betting offer.

Rhode Island To Expand Further

Back in June 2018, one month after the Supreme Court’s historic decision to overturn PASPA, Little Rhody moved quickly to legalize sports betting. The state’s Senate approved Bill S7200A, allowing full-scale betting on sports in almost less than 4 months. Although placing bets is confined to two locations at the moment, in person, the officials are planning to expand by integrating new systems.

According to governor, Gina Raimondo, the budget includes $23.5 million of tax revenue, and she expects that the state will also recover 51 percent of all sports betting income. The territory’s lottery officials started negotiating about software with IGT earlier in July, since it was the only supplier that submitted an offer.

Sports Betting As An Important Revenue Generator

To date, there are seven states that it legal betting on sports including Delaware, Mississippi, Nevada, New Jersey, Pennsylvania, and West Virginia. Among the territories whose gaming landscape is about to change is also New Mexico, although it still hasn’t ed a law that would authorize wagering on sports…

Equally important, the legislative leaders are certain that sportsbooks’ proceeds will boost the state’s budget, allowing it to transfer some of the funds to back to the community.

In the meantime, democratic senate president, Dominick Ruggerio, is preparing a bill that would permit people to place bets from any location within Rhode Island’s borders. The latest document will be presented to the legislative in January 2019.

Source:

“Sports betting to begin at 2nd casino in Rhode Island”, courant.com, November 30, 2018.