In a surprising turn of events, Rhode Island’s online casinos have reported record-breaking revenue for the month of May, despite the challenges posed by the ongoing COVID-19 pandemic. The state’s two online casinos, Twin River and Tiverton, reported a combined revenue of over $18 million for the month, marking a 20% increase from April and a staggering 75% increase from the same period last year.
The impressive revenue figures come as a welcome relief for the state’s gambling industry, which has been hit hard by the pandemic-induced shutdowns and restrictions. With land-based casinos closed for much of the year, online gambling has emerged as a key revenue driver for the industry, helping to offset some of the losses incurred from the closure of brick-and-mortar establishments.
Industry experts attribute the record-breaking revenue to a combination of factors, including the continued growth of the online gambling market, the easing of restrictions on in-person betting, and the rollout of new and innovative online casino games and promotions. In particular, the popularity of live dealer games, which simulate a real-world casino experience through a live video stream, has been a major contributing factor to the surge in revenue.
Rhode Island Governor Gina Raimondo hailed the record-breaking revenue figures as a sign of the state’s resilience and adaptability in the face of the pandemic. “Despite the challenges posed by COVID-19, Rhode Island’s gambling industry has shown remarkable strength and resilience, thanks in large part to our innovative online casino offerings,” she said in a statement. “I am confident that the industry will continue to thrive in the months and years ahead, providing much-needed revenue and entertainment for our residents.”
Looking ahead, industry analysts forecast continued growth in Rhode Island’s online gambling market, as more states move to legalize and regulate online betting. With the pandemic accelerating the shift towards online gambling, Rhode Island’s online casinos are well-positioned to capitalize on this trend and continue to drive record revenue figures in the months and years ahead.
