Bally’s Corporation, a major player in the gaming industry, is seeking approval from the state of Rhode Island to double the amount that high rollers can borrow at its two casinos in the state. The company, which recently acquired the Twin River Worldwide Holdings, now owns and operates the Twin River Casino Hotel in Lincoln and the Tiverton Casino Hotel in Tiverton.
Currently, high rollers at the Bally’s casinos in Rhode Island are able to borrow up to $50,000 in credit to use at the gaming tables. Bally’s is looking to increase this limit to $100,000, citing the need to stay competitive with other casinos in the region. The company argues that by allowing high rollers to borrow larger amounts, it will attract more affluent gamers to its establishments and increase overall revenue.
However, not everyone is on board with Bally’s proposal. Some state lawmakers and anti-gambling advocates have expressed concerns about the potential risks of allowing high rollers to borrow such large amounts of money. They fear that increasing the borrowing limit could lead to problem gambling and financial hardship for some individuals.
In response to these concerns, Bally’s has pledged to implement responsible gaming measures to mitigate the risks associated with higher borrowing limits. The company says it will provide education and resources for customers who may be experiencing gambling problems, as well as offering counseling services and self-exclusion options for those who need them.
The Rhode Island Department of Business Regulation is currently reviewing Bally’s request to double the borrowing limit for high rollers at its casinos. A decision is expected to be made in the coming months, with input from stakeholders and the public.
Overall, the debate over Bally’s proposal illustrates the complex and often contentious nature of the gaming industry. While companies like Bally’s seek to maximize profits and attract high-value customers, regulators and advocates must balance these goals with concerns about responsible gambling and consumer protections. The outcome of this debate will have implications not only for Bally’s operations in Rhode Island but for the broader gaming industry as a whole.
