Sports betting is close to becoming a reality in the US state of Rhode Island, with wagering due to commence at the Twin River Casino next week.
The opening bets will be placed by the Speaker of the House for the Rhode Island legislature, Nicholas Mattiello, along with Senate President Dominic Ruggerio and John Taylor, Jr, the executive chairman of Twin River Worldwide Holdings, who own the casino. The opening ceremony on Monday will mark the end of a journey towards sports betting in the state that began in June.
Rhode Island was one of the first legalised sports betting in June, just weeks after the Supreme Court moved to overturn PASPA in May. The state had anticipated being able to launch a regulated sports betting market on October 1, but the launch was delayed as talks between gaming company IGT and UK bookmaker William Hill overran.
William Hill have been given responsibility for managing sports betting in the state, and in conjunction with IGT, will provide an end-to-end sports betting platform at both the Twin River Casino and the Tiverton Casino, which are Rhode Island’s only licensed video lottery and table game venues. The Twin River organisation intends to launch sports betting at Tiverton Casino in December.
As part of the regulation of sports betting in the state, the Rhode Island legislature has set a 51% gross revenue tax. Had the industry been ready to launch in October, they estimated that the state government would earn an income of $32.5 million in tax revenue by next June, but the delay means that figure is likely to be around $12 million.
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