Senate in Rhode Island Votes to Increase Credit Ceilings at Bally's Gambling Venues
The Rhode Island Senate recently approved legislation that allows the state's two commercial casinos to offer higher amounts of cash to high-rolling gamblers. Senate Bill 3040 aims at amending the state's gaming regulations, allowing Bally's Twin River Lincoln and Bally's Tiverton to double the credit they can lend to VIPs and those who want to gamble big.
Currently, the casinos can lend up to $50,000 per player in cash. This bill seeks to raise that cap to $100,000. The Senate approved the measure with a vote of 28-5 on Thursday, sending it to the state House of Representatives, where it has been sent to the chamber's Finance Committee for initial review.
Bally's requested the higher lending allowance from Senator Dominick Ruggerio (D-North Providence). The company claimed that this change is necessary to enable its casinos to compete with gaming resorts in nearby Connecticut and Massachusetts which have no caps on such lending.
Concerns on Problem Gambling
Senator Sam Bell (D-Providence) was among those who objected to the bill. Bell wondered why a casino should allow a gambler to lose more than $50,000 in a single day. He emphasized that going into massive debt due to gambling is dangerous and that the state should not prioritize profits when dealing with an addictive product.
Bally's maintains that many high rollers can withstand such losses financially. They argue that extending credit isn't about giving cash to players who don't have it, but rather provides a more convenient and secure method of getting large sums compared to carrying cash. These loans, or "markers", must be repaid within a specific time frame (15 to 45 days), and casinos will not lend to players without verifying their creditworthiness.
The Bally's Lincoln and Tiverton credit applications require applicants to provide two bank accounts, which are verified by a third-party service. Players caught falsifying their credit applications face legal consequences for perjury in accordance with Rhode Island's General Laws.
The Rhode Island House must pass the casino credit bill by June 30 to send it to Governor Daniel McKee's (D) desk.
Casino Smoking Debate Continues
A proposal to revamp Rhode Island's clean indoor air law that gives indoor smoking exemptions to its casinos and pari-mutuel wagering facilities will likely not reach Governor McKee this year. In May, House Bill 7500 was put on hold by the House Finance Committee for further research on the potentially negative economic consequences of making casino venues smoke-free.
The Rhode Island Public Health and Workplace Safety Act passed in 2024 enables casinos to have smoking indoors.
Bally's announced in 2022 that tobacco smoking won't be allowed at their table games anymore.
A coalition of Bally's casino workers is still entreating state legislators in Providence to pass a law that bans smoking within their workspaces. However, Ruggerio, one of the most influential lawmakers in the heavily Democrat-controlled General Assembly, opposes this change.
Ruggerio, a smoker himself who has had cancer, last year claimed that gamblers who dislike being around second-hand smoke should "stay home" and gamble online.
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