Bally’s Prepping iGaming app in Rhode Island partners with live casino provider
Bally's Corporation has found a third-party partner for its upcoming iGaming operation in its home state of Rhode Island.
Bally's on Wednesday announced a deal with Stakelogic, a leading provider of online casino games and remote live dealer services. Stakelogic develops interactive slot machines and offers a licensed iGaming platform to traders through its two studios in Malta and the Netherlands.
Bally's has a monopoly on casino gambling in Rhode Island through its two brick-and-mortar casinos: Bally's Twin River Lincoln Casino Resort and Bally's Tiverton. The company gained iGaming privileges through state legislation passed this year and signed into law by Gov. Daniel McKee (D).
Rhode Island online casino regulations take effect on April 1, 2024. The law allows Bally’s and third-party partners to operate interactive slots and table games over the Internet.
Live Dealer Partner
Bally’s already operates in three of the six U.S. states that regulate online casino gambling. The Bally Casino app and platform are available in Pennsylvania, New Jersey and Delaware.
In April 2024, Rhode Island will become the seventh legal iGaming jurisdiction in the United States, joining Michigan, West Virginia, and Connecticut. Rhode Island's iGaming regulations allow Bally's to offer online slots and table games, with the state receiving a 61% share of slot machine profits and 15.5% of table game profits.
Unlike other states where iGaming is legal, Rhode Island’s online casino laws require that only live dealer table games be available. Computer simulated table games, such as those common in other online gambling states, are not allowed.
To accommodate live dealer requirements, Stakelogic will provide its Live Dealer Studio to the Bally Casino platform in Rhode Island.
We are very excited about our partnership with Bally's as it will finally allow Stakelogic to bring its technology to the United States. ” said Stephan van den Oetelaar, CEO of Stakelogic. “It will also enable us to achieve tremendous growth since launching our live casino 14 months ago and position Stakelogic as the leading technology company in the iGaming industry. "
Bally's could have gone with Evolution Gaming, which is considered a leader in the live dealer iGaming industry. The company already owns several live dealer studios in the United States.
But Bally found Stakelogic a better fit. A press release from Bally calls Stakelogic “one of iGaming’s rising stars.” Stakelogic is active in more than 20 foreign markets.
iGaming Extension
Sports betting expanded rapidly in the United States after the Supreme Court overturned a federal ban limiting single-game betting in Nevada in May 2018. But unlike sports betting, which has gained traction in more than 30 state capitals, iGaming hasn't garnered nearly the same level of support.
For betting operators, online betting is much more profitable than sports betting, which has very slim profit margins. In New Jersey, for example, bookmakers kept about $726.3 million of the more than $10.9 billion in sports betting last year. Meanwhile, online casinos in the Garden State generated more than $1.66 billion in gambling revenue, twice as much as sports betting.
Rhode Island lawmakers have debated the merits of allowing online gambling, with many elected officials expressing opposition. Most ultimately opted for legalization in order to keep the Ocean State at the forefront of the U.S. gambling industry.
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Source: www.casino.org
