Bally’s RI cites ‘dampening’ in sports gambling revenue in February
LINCOLN, R.I. (WLNE) — Bally’s officials in Rhode Island cited a “dampening” in sports betting revenue and participation since Massachusetts fully launched sports gambling this spring.
During the opening ceremony for a new gaming room at Bally’s Twin River Lincoln on Tuesday, Bally’s Senior Vice President of Rhode Island Operations Craig Eaton told ABC 6 News he hopes the new wing will drive more traffic in their sportsbook.
“It’s definitely dampened, right,” said Eaton. “I mean, before in Massachusetts it wasn’t legal. Some would come over the border, so there has been a dampening in betting percentage.”
Eaton cited a 20% decrease in sports bets placed since Massachusetts legalized all forms of sports betting.
According to data from the Rhode Island Lottery, revenue for the state reached roughly $40 million in the 2022 fiscal year. The same data shows a drop off in February 2023.
Eaton says Bally’s and other are now pushing to compete with neighboring states, including the proposal of a new betting application: “iGaming.”
Eaton finished, “We’re literally offering on your phone and on your machine slots and table games. That is an offering that will be explored, and the general assembly will be looking at that… that would be a gamechanger.”
Eaton and his team expect a bill for the new initiative to be proposed in the near future.