McKee to sign 20-year gambling contract with IGT, Bally’s

PROVIDENCE, R.I. (WPRI) — Gov. Dan McKee is set to sign a bill giving gaming technology company IGT and Twin River owner Bally’s Corp. control of most of Rhode Island’s gaming operations for the next 20 years.

The governor is holding a signing ceremony at the state house at 12 p.m. Friday.

Watch it live using the video player above.

According to House Speaker Joe Shekarchi, the legislation increases revenue to the state and preserves critical jobs.

Senate President Dominick Ruggerio likewise pointed to the protection of more than 1,000 jobs, guaranteed capital investment, and preservation of the state’s third-largest revenue stream.

Some changes were added to the amended legislation, including:

  • Upfront payment to state increases from $25 million to $27 million
  • Bally’s 30 new jobs must be put into place by Dec. 31, 2022
  • Bally’s increases its commitment to the I-195 commission for park naming rights by $200,000
  • IGT financial commitment increases from $155 million from $150 million
  • The penalty for missed job counts increased to $7,500 per job compared to $6,400 per job
  • The venture’s commitment to problem gambling increased from $125,000 to $200,000

The deal also includes an expansion of Twin River Casino in Lincoln. According to Elizabeth Suever, Bally’s vice president of government relations, 40,000 square feet will be added to the gaming floor, along with a 10,000 square-foot spa and enhanced food hall area.

The R.I. Division of Lotteries continues to maintain oversight and regulation of all gaming, and all aspects of the lottery and gaming programs will continue to be state-operated.

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