Bally’s Hope to Double Gambling Credit Limit at Rhode Island Casinos
Bally’s is aiming to increase the gambling credit limit at its two Rhode Island properties from $50,000 to $100,000 to stay competitive and attract high-stakes players.
Bally’s proposes doubling of Rhode Island gambling credit limit.
LISTEN TO THIS ARTICLE:Bally’s Addresses Concerns
Unsurprisingly, the move has caused concerns, even though Senate President Dominick Ruggerio supports it. Elizabeth Suever, Bally’s representative, addressed these concerns during a Senate Committee on Special Legislation meeting. She emphasized that the proposal targets gamblers who can repay their debts.
Casinos in Connecticut and Massachusetts operate without such credit limits, so the proposal aims to align Rhode Island’s offerings with neighboring competition. Bally’s launch in Rhode Island, is expected to boost the gambling tax revenue of the state, which totals roughly $428 million annually.
Opponents have questioned why the proposal was introduced late in the legislative session and its urgency. A spokesperson for Ruggerio confirmed that the legislation was created at Bally’s request to counter competition from Massachusetts casinos.
A controversial aspect of the proposal that has met particular opposition is that it affects the state’s Department of Business Regulation’s authority to alter Bally’s operating agreement without legislative approval.
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Rhode Island Hopes to Attract High-Rollers
Proponents argue that the bill will only impact a small group of high-rollers, reducing the need for large cash transactions and making land-based casinos of the company more appealing to these players.
In response to concerns about financial oversight and potential gambling debt, supporters highlight that players will undergo rigorous checks, including credit checks, identification verification, and tracking their gaming history across local casinos. No details were provided about the current number of players with $50,000 credit limits.
The proposed legislation will also change various aspects of Rhode Island’s lottery and casino operations. For instance, Bally’s debt ratio will be revised, and the method for calculating promotional points will change.
These changes will impact the state’s revenue share. Legislators will need to balance responsible gaming with maintaining Rhode Island casinos’ competitiveness against neighboring states. The proposal’s outcome will influence economic revenue and consumer behavior in the gambling sector.
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