Amidst fierce competition from the neighboring casinos, the twin river casinos in Rhode Island are feeling the heat and have sought additional funds for marketing.
While Twin River Worldwide, the company that owns and operates the two casinos in the state is falling short of funds to market the gambling venue, it has now turned to the state seeking more funds to mitigate the additional costs.
A bill calling for increasing the grant for the marketing of the two casinos is pending in Rhode Islands. At present, the casinos get around $6 million back for all expenses aimed at marketing the casinos. However, the gambling operator is seeking more to than that.
Twin rivers representative has argued that they are already facing stiff competition from neighboring casinos and the opening of Wynn’s Encore Boston Harbor Casino could choke them in terms of revenue generation. The Boston Harbor casino would be ready to welcome guests from June 23.
Twin River’s Adi Dhandhania, has said that “We have to spend proportionately to the [slots revenues] at the location so the customers stay loyal to the location. What we are estimating is that if we don’t spend proportionate dollars like we do in Lincoln, we will see a 5 to 10 percent hit in [slots] numbers, and the state has significant tax on income.”
Rhode Island is already facing a lawsuit challenging the legalization of sports betting in the state as those contending have said that the current sports betting legalization is unconstitutional.
Also, the state has been battling with decreasing sports betting revenues, and the gambling regulator has officially announced that the expected revenue forecast has been sliced by half.