A recent Rhode Island Department of Revenue report shows that revenue from legalized iGaming could be $50M less than previously expected, according to a new financial report.
The estimate is the latest from consulting firm Christiansen Capital Advisors, LLC. The firm complied 12 months of gross iGaming revenue and compared data from the six states where iGaming is currently live. The firm estimates that Rhode Island could earn $162.6 million in the first five years of operations.
That figure is short of the $210 million Bally’s says iGaming would bring to the state. Bally’s is the casino pushing the legislation and would operate online games through the International Game Technology (IGT) platform regulated by the Rhode Island Lottery if the legislation is approved.
Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia generated $5.6 billion for the year ended March 31, 2023, according to the report.
The estimate is the latest from consulting firm Christiansen Capital Advisors, LLC. The firm complied 12 months of gross iGaming revenue and compared data from the six states where iGaming is currently live. The firm estimates that Rhode Island could earn $162.6 million in the first five years of operations.
That figure is short of the $210 million Bally’s says iGaming would bring to the state. Bally’s is the casino pushing the legislation and would operate online games through the International Game Technology (IGT) platform regulated by the Rhode Island Lottery if the legislation is approved.
Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia generated $5.6 billion for the year ended March 31, 2023, according to the report.