A revised bill for IGT and Bally’s, formerly known as Twin River, to provide Rhode Island’s gambling services for an additional 20 years appears to be on the legislative fast track, with a vote in the House Finance Committee expected Thursday.
The updated bill, which includes added financial inducements sought by House Speaker Joseph Shekarchi, was introduced Tuesday.
The revised bill raises an upfront payment to the state from $25 million to $27 million, almost doubles the space of the planned footprint for Bally’s new offices in Providence, and raises funding to address problem gambling, from $125,000 to $200,000.
According to the House, Bally’s and IGT also agreed outside of legislation to raise minimum wages for their Rhode Island workers to $13 an hour by the start of 2022, $14 an hour by the start of 2023, and $15 an hour by the start of 2024.
“The legislation increases revenue to our state and preserves critical jobs,” Shekarchi said in a statement. “Along with the Senate, we have taken several steps to enhance the legislation on behalf of the taxpayers. I thank Senate President Ruggerio, who played a critical role in bringing the two companies together.”
Critics, including RI GOP National Committeeman Steve Frias, have said it’s a bad idea to pursue a no-bid process for a 20-year contract.
But Gov. Dan McKee endorsed the revised bill Tuesday, although he said he had not yet seen the final details.
“I think it’s important that we protect the jobs that are going to be protected, along with having an agreement that I’m anticipating that is going to be an even stronger agreement on behalf of the taxpayers in Rhode Island,” McKee said.
In a statement, Senate President Dominick Ruggerio said, “The Senate Finance Committee undertook an exhaustive review of this proposal and developed legislation that protects more than 1,000 jobs, guarantees significant capital investment, and preserves the state’s third largest revenue stream. I am grateful to Speaker Shekarchi for working to enhance the proposal to further benefit the state, and to IGT and Bally’s for their continued partnership and investment in our state.”
The bill is named for a Bally’s senior executive, Marc Crisafulli, who is battling cancer.
After bitterly feuding for months, Bally’s and IGT announced plans in January 2020 to partner on an effort to manage Rhode Island’s gambling operations for 20 years.
Gambling is Rhode Island’s third-largest source of state revenue.
Ian Donnis can be reached at idonnis@ripr.org
