The Rhode Island House Finance Committee will host a hearing on the existing contract with the gaming technology and services provider IGT. The committee would discuss the proposal to extend the contract with IGT for lottery operations in the state.
The current contract with IGT was due to expire in 2023. But state gov. Gina Raimondo extended the contract for another term of 20 years drawing flak from legislators and industry stakeholders. With the governor’s accent to the extended contract, IGT would have the lease until 2043.
Gov. Gina Raimondo said that it was crucial as with IGT leaving the Island, about 1,100 jobs would be lost.
As per the contract extension proposal, IGT would be required to employ at least 1,100 employees in Rhode Island and pay $25 million upfront.
However, the rival Twin River WorldWide Holdings have contended the contract extension. Earlier this week, Twin River and Camelot Lottery Solutions tendered a joint bid to operate the Rhode Island lottery system. The gambling operator in its proposal has said that they would create 1,100 new jobs. Moreover, they have also given a $100 million guarantee. An investment of $75 million in development has also been promised.
The two companies have paid over half a million dollars to several lobbyists.
According to John Marion, the executive director of Common Cause Rhode Island, it could be the biggest lobbying campaign in the state in recent times.