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Online Casinos Stats News
Rhode Island
slots income too low
November 1
Online casinos players and land-casino gamblers alike, are
learning that in Rhode Island, slots income is not what it used to
be. It is still very lucrative, but it isn't exactly producing the
income the state needs. In fact, the state's thriving casino
gambling industry is showing its first signs of a slow period.
For many years, slot machines at Lincoln Park and Newport Grand
have seen double-digit growth. But now -- while the machines are
still extremely profitable -- they are not producing the same boom,
and that could have grave ramifications for the state.
The 2005 state budget is based on the hypothesis that
slot-machine income would increase by 15.3%. However, data presented
yesterday by the Rhode Island Lottery show that since the start of
the fiscal year on July 1, there has been only a 4.2-percent bump.
Now, the slot revenue is $5.7 million short of expectations, and
earnings from other lottery games is down $1.6 million, according to
the House Fiscal Adviser.
The news comes just as Lincoln Park today brings on line 600 new
slot machines on its second floor. The added units are the first of
1,750 machines authorized by the General Assembly and Governor
Carcieri in July and bring Lincoln Park to 3,602 total slots, about
half of what Foxwoods Resort Casino has.
Online casino players are hoping for the sake of the state that
income takes a turn for the better soon.
Disclaimer - Online Casinos Stats offers the information on this website for entertainment purposes only. Unlawful gambling is strictly prohibited.
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