Bally’s Corporation has penned a strategic partnership agreement with live casino supplier Stakelogic following the legalization of online casino in Rhode Island.
Under the terms of the agreement, Bally’s will leverage Stakelogic’s technology to launch a live casino in the Rhode Island market when it goes live. Bally’s will introduce blackjack, roulette, and baccarat in Rhode Island next year.
Robeson Reeves, CEO of Bally’s Corporation, said: “We are thrilled to partner with Stakelogic to bring our live casino operations online in Rhode Island. With a partner like Stakelogic, we know we are putting our best foot forward, and we are confident that we will be able to provide our Rhode Island customers with a truly exciting live dealer experience.”
Rhode Island legalized online casino on 22 June when Gov. Daniel McKee signed SB948. The bill gives Bally’s the exclusive rights to operate in the state, via its Twin River and Twin River-Tiverton properties. Meanwhile, as its official vendor, IGT will also have access to Rhode Island’s gaming proposals.
Tax rates for the new endeavor are 61% on online slots and 15% on table games. On top of that, with the revenue sharing agreement, the state and IGT will net 85% of slot revenue and 51.5% of online table games revenue.
For Stakelogic – a European firm with two live casino studios and over 250 slot games – the deal marks a debut in the US as it seeks to stamp its authority on the growing market.
Stakelogic CEO, Stephan van den Oetelaar, said: “We are very excited about our partnership with Bally’s as it will finally enable Stakelogic to bring its technology to the US.
“It will also enable us to build on our tremendous growth since launching live casino 14 months ago, positioning Stakelogic as a leading technology company in the igaming industry.”
