Rhode Island sports betting delay could cost state $12m
The state of Rhode Island is losing $12m in expected revenue due to a delay in the launch of sports betting, according to analysts.
In June, a budget was passed in the Ocean State that included $23.5m in sports betting revenue.
However, the budget assumed a 1 October start, but the launch was delayed until “around Thanksgiving.”
Sports betting will still launch this month at Twin River Casino in Lincoln, but the delay is calculated to have cost the state millions in revenue.
The Providence Journal has reported analysts recently cut revenue projections by $12m as a result of the delay.
An additional $7.9m in slot machine and table games revenue is said to help offset the loss.
But the Rhode Island government has said negotiations with the vendor that will manage sports betting services took longer than expected.
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