The Rhode Island Lottery has announced $22.5 million handle in August, up 10.9% month-over-month from $20.2 million in July.
Rhode Island mobile sports betting comprised 78.7% of total wagers for August, taking $17.7 million in wagers. This was an increase of 14.9% month-over-month. Book revenue fell month-over-month despite the increase in handle, dropping 14.2% from $1.4 million in July to $1.2 million in August.
The RI sports betting market continues to struggle, with handle down 18.8% year-over-year. July sports betting revenue was the lowest ever non-pandemic sports betting handle.
Tiverton Casino took $1.9 million in wagers for the month of August, an increase on July. However, the property recorded a $90,550 loss overall. Twin River fared marginally better, taking $2.8 million in wagers and recording book revenue of $234,649.
Rhode Island is the smallest US state by area, and the seventh-least populous with 1.1 million residents as of 2020. The state, however, was the only state to sign legislature in 2023 to bring online gaming into law.
Rhode Island online casino will be run exclusively by Bally’s, after Governor Daniel McKee signed SB 948 into law earlier this year. The fiscal proposition will see online slot revenue taxed at 50%, with table games taxed at 18%. Bally’s also runs both Tiverton and Twin River casino.
The company, which is synonymous with Rhode Island, donated a record $5 million to the Community College of Rhode Island Foundation last month. The funding will be used to help create and fund a certificate, or associate degree with a gaming-focused curriculum. Bally’s will offer prospective students practical work experience, and also work with the college to create courses to upskill existing workers.