Rhode Island to launch sports betting market
Twin River Casino in Lincoln is ready to launch the sports betting market in Rhode Island in the upcoming weeks. Rhode Island was one of the first states to pass its own regulation bill for the segment back in July.
While the casino estimated that operations would be launched at the beginning of October, a complex negotiation forced authorities to push the inauguration of the gambling segment. It is expected that revenue from sports betting will contribute approximately US$23.5 million in the first fiscal year of operations, which ends on June 30, 2019.
Governor Gina Raimondo signed the US$9.6 billion budget for the 2019 fiscal year back in July, and it included the revenue from sports gambling. “Sports wagering provides the state with a revenue stream that supports critical priorities, such as investing in roads and schools without increasing the tax burden on citizens,” state Senate president Dominick J. Ruggerio said after the governor signed the budget in July.