Rhode Island sports betting handle reached $41.1m in May, 2.2% higher than $40.2m in April.
US.- Rhode Island sports betting handle reached $41.1m in May, up 45.2% from $28.3m in the same period of 2021 and 2.2% higher than $40.2m in April 2022. From the total, $25.3m was spent online, while the other $15.8m was bet at retail sportsbooks at casino locations.
In May, revenue recorded $2.3m, down 14.8% year-on-year from $2.7m and 11.5% lower than $2.6m in April of this year. It was also the lowest since December 2021, when it posted $1.2m. Some $1.9m of total revenue was attributed to online betting.
Some $461,059 of total revenue was split across Twin River and Tiverton Casino. Tiverton Casino recorded $404,515 in revenue from $5.3m in bets, and Twin River Casino posted $56,544 in revenue, with a handle of $10.5m.
Last month, Rhode Island senators unanimously approved a bill that would require the state’s casinos to finance problem gambling programs through Rhode Island’s State Lottery Division. Senate Bill 2496 proposes that Bally’s Tiverton and Bally’s Twin River Lincoln pay the State Lottery Division no less than $200,000 annually for the programmes.
Bally’s to sell two Rhode Island casino properties in $1bn deal
Bally’s Corporation agreed a $1bn sale-and-leaseback deal for its Rhode Island casinos, Tiverton Casino and Hotel and Twin River Lincoln Casino. It will sell the property of both casinos to GLP Capital, Gaming and Leisure Properties’ operating partner.
Bally’s will then lease the two properties. It will continue to own, control, and manage all gaming operations at the facilities without interruption. It’s expected that both properties will be added to the existing master lease between Bally’s and GLPI, with incremental rent of $76.3m.