STATE HOUSE, Providence – Legislation sponsored by President of the Senate Dominick J. Ruggerio to enable sports wagering at Twin River in Lincoln and the coming gaming facility in Tiverton passed the Senate today.
The legislation (2018-S-2045A) mirrors language included in the Fiscal Year 2019 state budget, which passed the House of Representatives last week and is scheduled for consideration by the Senate tomorrow.
Sports wagering is estimated to provide $23.5 million in new revenue to the state in Fiscal Year 2019. The amended legislation directs 51 percent of net sport-gaming revenue to the state, with operator IGT receiving 32 percent, and Twin River receiving 17 percent. The towns of Lincoln and Tiverton will receive additional compensation of $100,000 per year for serving as the host communities. The terms of the agreement also provide that if IGT enters into an agreement elsewhere which provides another state with a more favorable rate, the company must match those terms in Rhode Island.
“Sports wagering provides the state with a revenue stream that supports critical priorities, such as investing in roads and schools, without increasing the tax burden on citizens. Rhode Island taxpayers will be receiving the highest percentage of revenue in the nation from sports wagering,” said President Ruggerio. “Legal sports wagering in Rhode Island will provide revenue for critical state services while offering a new entertainment option for Rhode Islanders. This provides a legal means for Rhode Islanders to enjoy a form of entertainment in which many already engage.”
In addition to Senate President Ruggerio (D-Dist. 4, Providence, North Providence), the bipartisan sponsors of the legislation include Senate Majority Leader Michael J. McCaffrey (D-Dist. 29, Warwick), Senate Minority Leader Dennis L. Algiere (R-Dist. 38, Charlestown, South Kingstown, Westerly), Senate Majority Whip Maryellen Goodwin (D-Dist. 1, Providence), and Senator Frank A. Ciccone, III (D-Dist. 7, Providence, North Providence).
For more information, contact:
Greg Pare, Press Secretary for the Senate
State House Room 314
Providence, RI 02903