Bally’s Online Casino Performance in Rhode Island Shows Results

Rhode Island’s venture into online casino gaming has begun to take shape, with Bally’s serving as the state’s sole licensed operator. The Rhode Island Lottery’s July 2024 iGaming revenue report indicates that Bally’s won nearly $2.6 million from players over the 31 days of July. This revenue was generated from a total of approximately $67.7 million in bets, resulting in a win rate of just over 3.8%.

July 2024 marked the fourth full month of operation for Bally’s online casino, which launched in the state on March 5, 2024. This period represents the first complete fiscal year for the online gaming vertical in Rhode Island. Bally’s, which also operates the state’s two brick-and-mortar casinos and the sole licensed online sportsbook, holds a near-monopoly in the state’s gaming market.

The initial data from July provides a preliminary view of the online casino market, but with only a few months of data available, it is challenging to assess long-term trends and impacts. The question of whether Rhode Island would benefit more from having a single operator like Bally’s or from opening the market to multiple operators remains unanswered.

The state’s choice to grant Bally’s exclusive online casino rights was aimed at quickly entering the regulated online gaming market. This approach allowed Rhode Island to bypass the complexities and costs associated with evaluating and licensing multiple operators. However, the trade-off included potentially forfeiting licensing fees that could have been generated from a more competitive market.

 

 

July’s performance establishes an initial benchmark for Bally’s online casino operations in Rhode Island. However, a comprehensive analysis of the state’s online casino market requires more extensive data over time. Relying solely on monthly revenue figures is insufficient for drawing definitive conclusions, as individual months can show distinct trends and anomalies that do not necessarily reflect broader patterns. To fully understand the market’s dynamics and Bally’s role within it, a detailed year-over-year comparison will be necessary. This level of analysis will not be possible until at least April 2025, when a more informed assessment can be made.

As Rhode Island monitors Bally’s ongoing performance in the online casino sector, it will be essential to conduct continuous and thorough analysis. This will determine whether the state’s current strategy, which involves a single operator, is the most effective approach or if introducing competition might produce better outcomes. At present, Bally’s holds a dominant position in Rhode Island’s regulated online casino market. Yet, the complete impact of its exclusive presence on the state’s gaming landscape remains to be fully understood and evaluated.