Bally’s requests RI officials to double credit lines for casino players
Bally’s wants to extend the perks offered to VIP casino players by calling on Rhode Island officials to issue larger credit lines.
Currently, a $50,000 cap has been imposed on VIP players, however, to retain the loyalty of high rollers, Bally’s is urging officials to double the limit to $100,000.
State Senate President Dominick Ruggerio (D-North Providence), a staunch supporter of iGaming, has sponsored the bill even though it was brought to light two months after the deadline had passed for filing the new measure.
However, the bill’s late introduction was permitted because keeping Bally’s two casinos in Rhode Island competitive against brick-and-mortar locations in Connecticut and Massachusetts is deemed to be vital to the state’s financial interests.
The Rhode Island Lottery, which is the state’s official gambling body, or the Council on the Problem Gambling, has been radio silent on the matter.
Explaining their stance, Thomas Joyce, the president of the RI Council on Problem Gambling, said: “We do not take a position for or against legalized gambling.
“We advocate solely for those affected by problem gambling and advocate for the appropriate funding to provide necessary resources, education, prevention, support and treatment.”
Connecticut casinos are owned by the tribes, meaning they can dictate how much credit to issue to players, while Massachusetts doesn’t currently have a credit limit.
As such, Bally’s wants to get on more of a level footing with neighboring states, and it is thought that casinos are the third largest source of state revenues for Rhode Island.
Casinos will often extend credit lines to high rollers as it will negate the need for VIPs to carry huge sums of cash around on the casino floor.
Unless a player is known to a casino, a gambler angling for a bigger credit line could harm their credit score.
The new limit proposed would only apply to players gambling in person and it would be unavailable to those using the app.
It is expected the Senate Committee on Special Legislation will recommend a further study be carried out before voting on the statute.
Whether Bally’s gets its way remains to be seen, but they aren’t ready to back down.
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