IGT the Sole Bidder for Rhode Island Sports Betting Rights

Staff Writer Industry News, IGT 1,261

Gaming tech firm International Game Technology (IGT) is the only one to bid for a contract to run the Rhode Island’s proposed foray into sports betting.

Earlier this month, the U.S. Supreme Court overturned a ban on state legalizing sports gambling which set off a rush in Rhode Island and across the country to capitalize on a potentially highly lucrative source of revenue.  The Rhode Island Lottery first issued a request for proposals on the contract last month and 18 firms participated in the pre-bidding process conference on the contract before the Supreme Court even made the final decision.

Despite the high interest, The Rhode Island Lottery announced that the Providence-based company IGT was the only one that formally submitted a bid by Friday’s deadline.

They would have preferred more bidders and the reason for why the rest of 18 interested companies hadn’t submitted their bids remains unfamiliar. Pre-bid conference included sports betting RPF, MGM Resort International, sports site Draftkings and Greek Lottery company Intralot among others.

IGT’s proposal has been sent to the Lottery’s Technical Review Committee to be assessed if it meets all the requirements and the bid could be rejected if flaws are discovered. In that case, the contract could be rebid. The bidders should demonstrate their capability to readily adapt to any future additions to authorized sports betting. The sports betting would initially be run in Twin River Casino in Lincoln and Tiverton. Twin River employees would take the bets and the new contractor would set odds and run the technology system facilitating the wagers.

The budget estimates $23.5 million in new state revenue on around $800 million in total wagers.

The scope of Rhode Island sports betting can easily be expanded beyond these two casinos since Senate President Dominic Ruggerio supports eventual expansion into multiple “satellite” betting parlors and ultimately online wagering.

IGT has already set a base in Rhode Island   and has worked in partnership with the Rhode Island Lottery, running its electronic lottery systems for the past six months and also provided $53 million worth equipment and gaming services for the state last year.

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