Rhode Island’s online casino industry continues to expand exponentially, reporting a record revenue sum for October and November 2024.
According to the annual Rhode Island Lottery iGaming Revenue report, players in the state collectively spent just over $75 million playing online slots (iSlots) and online table games (iTables).
The net gaming revenue (NGV) for October came to over $3.2 million, marking a 2.6% increase from the month before.
The $75 million handle for October, while a record sum, still falls behind the amount of money Rhode Island players spent in September, which holds the record sum of $80.8 million since the industry launched in The Ocean State in March 2024.
The Big Picture
To add some context to the extent to which iGaming expands in Rhode Island, in March 2024, players spent just over $31 million on online slots and table games, which jumped to $48 million in April, $61.2 million in May, and $61.9 million in June, counted as part of fiscal 2024. The total handle for these months came to over $202 million, with a net revenue of $7.8 million.
Fiscal 2025 for RI’s iGaming sector started in July 2024, which saw another increase in the iGaming handle compared to June 2024, with players spending $67.7 million.
The trend continued to experience a consistent rise in August when players spent $74.6 million on iSlots and iTables. November came close to the record-breaking $80 million reported in September. During the penultimate month of the year, Rhode Islanders wagered $79.7 million on slots and table games.
From July to November 2024, players spent a total of $378 million in the Rhode Island iGaming sector, with a total net gaming revenue of $14.7 million.
Online Slots Lead the Way in Rhode Island
Rhode Island’s state lottery report’s month-to-month spending shows that online slots are the more popular form of gaming for players. For instance, during the highest-earning month so far (October), players spent $49 million on online slots and $26.1 million on iTables. In September, the RI iGaming sector collected $49.4 million from online slots and $31.3 million from table games.
November 2024 showed comparable results, where the iSlots handle was $47.9 million to $31.8 on table games. From July to November 2024, the total handle on iSlots was $226.1 million and $151.8 million on table games. It’s worth noting that the online slots handled for November saw a small drop, from $49 million in October to $47.9 million in November. On the other hand, the iTable revenue jumped from $26.1 million in October to $31.8 million in November.
Rhode Island legalized online gaming in late June 2023 through the land-based casino Bally’s, which runs the state’s two brick-and-mortar casino establishments: Bally’s Twin River and Bally’s Tiverton.
Some reports show that land-based gambling on slot machines and table games dropped by 2% in October 2024.
The Rhode Island Lottery report for video lottery terminal (VLT) net terminal income (NTI) for fiscal 2025 (so far) shows minor fluctuations from as low as $39.9 million NTI in September to $43.9 million in Nov. 2024 at Bally’s Twin River Casino and Bally’s Tiverton Casino.
Bally’s Twin River Casino is by far the bigger earner of the two, reporting a total of $1.3 billion from July to November, compared to Bally’s Tiverton Casino’s $394.4 million.
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