RI Needs Help with Slot Machine Revenue

Many are asking themselves why the legislature would consider bringing up slot machines and other types of gambling now, since voters just told them no to a casino in November. Rep. William San Bento can answer that question for you – the state needs the revenue that the slot machines can give them.

The state has been noticing a drop in their slot machine revenue ever since other states starting adding the machines and taking away their clients. They are hoping that if they can bring in things like bigger and better slot machines and lure gamblers away from Massachusetts they could start bringing in more revenue again. San Bento thinks that the trend they have seen regarding the lessening of slot machine revenue in the state could only be the beginning.

The state’s slot machine revenues are down $37 million from where they thought they would be right now. Actual revenues are $1.8 million below the revised numbers as well. If it keeps going the way it is going, they could continue to lose millions in slot machine revenue at this rate. The state uses the slot machine revenue for a variety of purposes, and cannot afford to lose millions of dollars to another state.

Massachusetts is also considering adding slot machines to their racetracks, some of which are very close to the Rhode Island border and if that happened the slot machine revenue in RI will drop even more.

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