Rhode Island Casino Revenue Threatened by New Casinos in Massachusetts
According to a study commissioned by Rhode Island Governor Lincoln Chafee, casino gambling in Massachusetts could cost Rhode Island over $100 million a year.
The governor said that he was not surprised by the results of the study and he will do whatever he can to find a way to protect the state's revenue.
Currently, Rhode Island takes in a little over $300 million from the slot machines in Lincoln and Newport. The study estimated that neighboring casinos will cost Rhode Island $140 million a year five years from now if they do not add table games, such as blackjack and craps. Even if it gets table games, the state would still lose $124 million.
"We're still evaluating the report and all our options," Chafee said in regards to adding table games at Twin River.
The study also estimated that Massachusetts casinos would cause the loss of 319 jobs in Rhode Island in 2017. If table games are eventually allowed in Rhode Island, there would be 201 more available jobs at Twin River at that time.
"Massachusetts had just passed it. Is New Hampshire far behind? More in Connecticut? Let's build our economy and depend on those revenues. A good vibrant economy in this state," said Chafee.