Will Massachusetts Casinos Harm Rhode Island Gambling Industry?
There's concern in Rhode Island at present that Massachusetts casinos could spell trouble for for their own gambling industry with the Twin River Casino and the Newport Grand both in danger. At present the Massachusetts gambling commission are looking as to where to license a possible 3 large resort style casinos and 1 slots parlor, and the positioning and scale of those establishments is where the trouble could lie. At present the gambling industry in Rhode Island is the states 3rd largest source of income, a very valuable revenue stream and one that could be devastated by Massachusetts casinos.
The bill to build casinos in the state of Massachusetts was passed in 2011 as a way to generate more revenue for the state without increasing taxes and although there was opposition, especially regarding the building of a slots parlor, the bill passed and will now be acted upon. Venues will now be built to cater for casino style gambling in the state and those casinos in Rhode Island that have relied on visitors coming across the border will of course be affected. Rhode Island's Twin River Casino is located just across the border and since casino gambling has been introduced in the state it is estimated that around $1 Billion a year is spent by Massachusetts residents in either Rhode Island or Connecticut casinos. It's that sheer amount of money being taken out of Massachusetts that triggered the bill, however that money simply has to come from somewhere, and for all intents and purposes it will be the Rhode Island casinos that lose out.