Rhode Island, IGT Lock In 20 Year Gambling Extension

• Rhode Island gambling will continue to be done for the next 20 years using IGT as their operator.
• Gambling in the Ocean State is the third-largest source of revenue.
• The Marc A Crisafulli Economic Development Act will provide 1,100 more jobs in the state with IGT and bring in at least $250 million.

PROVIDENCE, R.I. – The Bally’s Corporation and International Game Technology (IGT) have locked into a 20-year gambling extension in Rhode Island as of Friday.

The extension is part of the Marc A Crisafulli Economic Development Act that was signed by Governor Dan McKee. IGT has been the operator for all gambling in the Ocean State, which has proven to be quite a lucrative market in terms of the largest revenue streams that come into Rhode Island annually, placing third overall.

The Act is named after Marc A. Crisafulli, the executive vice president of Bally's, who is currently battling a cancer diagnosis.

What The New Deal Brings With It

Expansion of one of two Rhode Island casinos is expected to be seen with this new agreement. IGT believes they will be able to provide the state with 1,100 more jobs following the upgrades to the Twin River Casino Hotel that is projected to cost $100 million when all is said and done.

Construction should begin about 18 months.

"This agreement has been dramatically improved since first being introduced in 2019," said Governor Dan McKee. "This deal secures additional economic development benefits for Rhode Island, better wages for Rhode Island workers, and enhances our gaming competitiveness. We thank our local partners for coming together to finalize this agreement. This is not only an important source of revenue for our state but employs thousands of Rhode Islanders and provides a great reason to visit Rhode Island. I thank the Speaker and Senate President for their leadership in enhancing this proposal."

New jobs will also open at the Bally’s casinos themselves for even more employment opportunities. An influx of $255 million will flow into the state through this 20-year partnership.

Bally’s casinos are also home to the sportsbooks of Rhode Island as well.

Gambling in Rhode Island has become a huge market for keeping the economy alive, especially one that needs as much help as it can get as they try and come back from the Coronavirus Pandemic.

"This is an economic development success story that Rhode Island's leaders should be proud of and should be able to say with confidence: 'Yes, we did this,'" said Jay Gendron, Chief Operating Officer, Lottery, IGT. "We kept more than 1,100 well-paying jobs here; brought in more than $250 million in investment; approved a $100 million renovation and expansion to protect the state's third largest source of revenue; and ensured not one, but two companies continue to operate right here in Rhode Island for the next 20 years. And all of this was accomplished during a once in a lifetime pandemic. You have to tip your hat to the leadership of this state who stepped up to make this happen."