Delays in vendor negotiations may cost RI around half its projected revenue from sports betting.
Sports betting delay could cost Rhode Island $12m
Industry analysts have declared Rhode Island could miss out on as much as $12 million in potential gambling revenue.
The state’s June budget included $23.5m from sports betting, but that figure was based on an October 1 start.
With the launch of legal wagering now delayed until late November, analysts estimate the Ocean State will have to settle for around half of the initial projected revenue.
However, that loss is counterbalanced somewhat by a $7.9m bump from slot machines and casino games.
The Rhode Island government has blamed the delay on unexpectedly lengthy negotiations with prospective gaming vendors.
The Twin River Casino in Lincoln will be the first venue to host legitimate sports betting services, although an exact launch date is not yet set.
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