Rhode Island’s two land-based casinos, Bally’s Twin River Lincoln and Bally’s Tiverton, seek to raise the current upper limit to gamble on credit from $50,000 to $100,000. Although this decision has raised numerous questions, the main objective was to attract high rollers and retain them in the state.
Dominick J. Ruggerio, a Democratic member and president of the Rhode Island Senate, along with Senator Frank A. Ciccone, introduced the legislative proposal to raise the limit on May 2, 2024.
If passed, the bill would refer to in-person gamblers only, excluding online players. The gambling-on-credit legislation would affect the state’s coffers positively, with estimations pointing to approximately $428 million in tax revenue for 2024.
When asked about the late introduction date of the bill, a spokesperson for Senator Ruggerio explained that it “was introduced at the request of Bally’s, to keep them on par with competition from casinos in Massachusetts.”
Bally’s Envisages the Need to be “Regionally Competitive”
As reported by The Providence Journal, Bally’s representative Elizabeth Suever, made a statement before the Senate Committee, confirming that the company did not target players who would not be able to pay the credit back. She further explained that Bally’s envisaged the need to be “regionally competitive” and provide high rollers with the same conditions offered by operators in Connecticut and Massachusetts.
Additionally, she said that despite Bally’s already high limits, players have been looking for more flexibility, similar to the one they can find in casino establishments in these neighboring states. There are no upper credit limits imposed on players in Massachusetts. As for Connecticut, tribal operators can set the limits at their discretion.
Bally’s representative further added that the operator’s request was not for limitless credit for gambling. Instead, the operator looked to raise the current limit from $50,000 to $100,000. Thus, high rollers who refrain from carrying large amounts of cash in person would be enabled to place high-value wagers. However, these limits would apply to a limited number of players.
Although Bally’s representative was not able to specify the current number of players who are currently eligible to receive the $50K credit, the gambling company must conform to a specific set of requirements to extend or raise their customers’ limits. The successful candidates must first file a written credit application. Additionally, Bally’s must run bank account checks and credit history checks to evaluate their financial fitness.
Suever further explained that the operator would require two forms of identification and track the player’s credit activity and gaming history across other licensed facilities. Checking if an applicant is on an exclusion or self-exclusion list is yet another mandatory aspect of the application procedure.
