Rhode Island Lottery has recently announced that it has extended its sports betting contract with International Game Technology (IGT) for another three years. This move comes after the successful partnership between the two entities for the past two years, which has seen the state generate over $36 million in revenue from sports betting.
The extension of the contract means that IGT will continue to provide the Rhode Island Lottery with its sports betting platform, which includes a range of features such as in-play betting, pre-match betting, and live streaming of sporting events. The platform also offers a variety of betting options, including moneyline, point spread, and over/under bets.
The partnership between Rhode Island Lottery and IGT has been a significant success story for both parties. In the first year of operation, the state generated over $23 million in revenue from sports betting, with this figure increasing to $36 million in the second year. This success can be attributed to the user-friendly platform provided by IGT, which has made it easy for customers to place bets on their favorite sports teams.
The extension of the contract is also good news for the state of Rhode Island, which has been hit hard by the COVID-19 pandemic. The revenue generated from sports betting has helped to offset some of the losses incurred by the state’s tourism industry, which has been severely impacted by the pandemic.
In addition to providing revenue for the state, sports betting has also created jobs in Rhode Island. The partnership between Rhode Island Lottery and IGT has created over 100 jobs in the state, with many of these jobs going to local residents.
Overall, the extension of the contract between Rhode Island Lottery and IGT is a positive development for both parties. It ensures that the state will continue to generate revenue from sports betting while providing a user-friendly platform for customers. It also creates jobs in Rhode Island and helps to offset some of the losses incurred by the state’s tourism industry due to the COVID-19 pandemic.
