Renegotiated Gambling Deal Approved By Rhode Island's House Panel
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Renegotiated Gambling Deal Approved By Rhode Island's House Panel. Bill obligates IGT-led alliance to 1,100+ jobs in Rhode island in return for exclusive ownership of the technology that operates Rhode's state-sponsored gaming. The House GOP Leader questions why Rhode gets 12.7% revenue after expenditures and 84.43% of net table game revenue.
Lottery’s unprecedented 20-year contract with a technology firm. Filippi voted against the bill. None of the Democrats on the other side of party-line vote said anything about the reworked bill, which was first made public on Tuesday.
Rhode Island House leaders signed the reworked agreement with IGT and Bally’s. The agreement is not clear what percentage of the gambling income will go to I GT and bally's. In Fiscal Year 2019, the last full year of service, Igt received $56.8 million and Twin River received $287 million.
Table games’ net sales at the two casinos fell by 32 percent from March 2020 to the end of the fiscal year (pre-pandemic), and by 49 percent overall. The new IGT contract runs until June 30, 2023. I GT will make a $27 million initial payment in the proposed new contract.
