Rhode Island Governor Dan McKee has signed legislation which will extend the agreement between the Ocean State, IGT and Bally’s Corporation.
The signing of the legislation, known as the Marc A Crisafulli Economic Development Act, will create a licensed video lottery terminal provider to supply all gaming machines to the Rhode Island division of lotteries for Bally’s Twin River Casino Hotel and Tiverton Casino Hotel.
“This agreement has been dramatically improved since first being introduced in 2019,” said Dan McKee, Rhode Island Governor. “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 finalise 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.”
The bill will represent a $250 million economic development plan, which Governor McKee noted will include “1,100 well-paying Rhode Island jobs” while also “proactively protecting Rhode Island’s third largest source of revenue”.
The legislation will facilitate the expansion of Twin River Casino in addition to maintaining its corporate headquarters in Providence until 2043.
George Papanier, President and CEO of Bally’s, said: “On behalf of Bally’s Corporation, I would like to thank Governor McKee and the Rhode Island General Assembly for their continued support and commitment to the state’s gaming industry.
“Rhode Island is where our roots are, and we could not be more excited to work alongside IGT and participate in a long-term endeavour that will increase industry competition, preserve and generate revenue, maintain and create new jobs, and provide exciting offerings for our valued customers.
“We strongly believe that this economic investment plan will benefit Rhode Island’s gaming industry and its competitive posture in a meaningful way. Gaming revenue is critical to the state, and through the proposed improvements, we intend to not only preserve, but increase, that revenue, which will generate positive returns for Rhode Island, its citizens and Bally’s stakeholders.”