The law, referred to as the Marc A. Crisafulli Economic Development Act, represents $250m in investment, which will include 1,100 jobs for the Ocean State.
The bill will also allow for the maintenance of Twin River Casinos corporate headquarters in Providence until 2043, as well as the expansion of the casino itself.
The main feature of the legislation is to supply gaming machines to the Rhode Island locations for Bally’s Twin River Casino and Tiverton Casino Hotel by creating a licensed video lottery terminal.
Bally’s CEO George Papanier said on the agreement: “On behalf of Bally’s Corporation, I would like to thank Governor McKee and the Rhode Island General Assembly for their continued support and commitment to the state’s gaming industry. Rhode Island is where our roots are, and we could not be more excited to work alongside IGT and participate in a long-term endeavour that will increase industry competition, preserve and generate revenue, maintain and create new jobs, and provide exciting offerings for our valued customers.”
He continued: “We strongly believe that this economic investment plan will benefit Rhode Island’s gaming industry and its competitive posture in a meaningful way. Gaming revenue is critical to the state, and through the proposed improvements, we intend to not only preserve but increase that revenue, which will generate positive returns for Rhode Island, its citizens and Bally’s stakeholders.”
Rhode Island Governor Dan Mckee (pictured) is optimistic about the effects of the bill. “We thank our local partners for coming together to finalise this agreement,” he said. “This is not only an important source of revenue for our state but employs thousands of Rhode Islanders and provides a great reason to visit Rhode Island. I thank the speaker and senate president for their leadership in enhancing this proposal.”
