Rhode Island casinos experienced a modest yet healthy growth in October.
Bally’s Twin River and Bally’s Tiverton brought in a combined total of about $54 million. This was an increase from last year’s $51 million and provides a much better outlook than what the numbers were showing over the summer.
Let's take a closer look at what's happening at these casinos.
A Closer Look at the Revenue Generated by Rhode Island Casinos
In October, the combined revenue for the state's casinos hit $53.5 million. That's a 4.5% increase compared to last year around the same time, when the figure was $51.2 million.
- Bally’s Twin River: The bigger of the two, Twin River raked in $40.7 million, which is up by 3.6%.
- Bally’s Tiverton: Though smaller, Tiverton's growth was more impressive. It secured $12.8 million, marking a 7.4% rise.
What's Driving the Growth?
- VLTs (Video Lottery Terminals): These machines are doing most of the heavy lifting. At Twin River, VLTs generated $32.8 million, a 4% increase from $31.5 million last year.
- Table Games: Growth here is lagging. At Twin River, table game revenue only moved up slightly by 1.9%.
Tiverton’s Unique Role in Little Rhody
Tiverton's revenue gains were mostly due to a significant rise in its VLT revenue. Interestingly, its table games actually brought in less money compared to last year.
It's not the first time something like this has happened, we saw a similar effect earlier this year.
Online Casinos Continue to Stake Their Claim
While traditional casino revenue grows slowly, new trends are emerging. Online gaming (or iGaming) and sports betting are booming. For example, online casino revenue reached a new record of $3.2 million in October.
This came after online casino revenue reached a new monthly record of $3.2 million, up 2.6% from September, driven by $2.4 million from online slots and $793,527 from online table games
The sports betting and iGaming combination also stood out. Combined, they reached $174.4 million, marking one of the highest figures for Rhode Island.
The Rhode Island Casino Scene Continues to Evolve
Rhode Island's gaming scene is evolving.
While VLTs at land-based casinos like Twin River and Tiverton are crucial, iGaming and sports betting are becoming central to the growth story.
As these digital platforms continue to expand, they play a significant role in the state’s rising gaming revenue, emphasizing a shift toward more machine-driven and online gaming segments rather than traditional live tables.
In short, the gaming industry in Rhode Island is on a healthy path, fueled by digital advancements and consistent performance from machines, while traditional tables lag but remain part of the blend.
