Rhode Island projects high revenue loss in state run lottery

According to a local report, it was revealed that Rhode Island would be facing a considerable loss in revenue from lottery in the coming period.

The estimated revenue loss from lottery was calculated to be more than USD 300 million over the coming four-year period. Considering the state of the economy at this point, this would take the state further back from their current position.

One of the reasons behind the loss in the lottery revenue for Rhode Island has been the rising competition. It is believed that they are going to soon see a tough competition from the new casinos, which are already planned, in Massachusetts. Hence, it has added further to the estimation in revenue loss of the state from lottery.

Meanwhile, the good news is that table games, which received approval during a referendum in November 2012, are going to be installed at Rhode Island’s popular casino, Lincoln Twin River Casino. If this works out well, there are chances that the projected loss may come down by some margin.

Tweet