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Posted on: July 13, 2023, 12:30h.
Last updated on: July 12, 2023, 05:32h.
The Bally’s Corporation has found a third-party partner for its forthcoming iGaming operations in its home state of Rhode Island.
Bally’s today announced an agreement with Stakelogic, a leading provider of online casino games and remote live dealer services. Stakelogic develops interactive slots and offers dealers for licensed iGaming platforms from its two studios based in Malta and the Netherlands.
Bally’s holds a monopoly on casino gambling in Rhode Island with its two brick-and-mortar casinos — Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton. The company was afforded iGaming privileges through state legislation passed this year and signed into law by Gov. Daniel McKee (D).
Rhode Island’s online casino statute becomes effective on April 1, 2024. The law only allows Bally’s to operate interactive slots and table games over the internet with a third-party partner.
Live Dealer Partner
Bally’s is already operational in three of the six US states that have regulated online casino gambling up and running. The Bally Casino app and platform are live in Pennsylvania, New Jersey, and Delaware.
Rhode Island come April 2024 will become the seventh legal iGaming jurisdiction in the US, with Michigan, West Virginia, and Connecticut being the others. Rhode Island’s iGaming statute allows Bally’s to offer online slots and table games, with the state set to take a 61% share of the slot win and 15.5% of the table hold.
Unlike the other legal iGaming states, Rhode Island’s online casino law requires that only live dealer table games be offered. Computer-simulated table games, common in other online gaming states, are not allowed.
To satisfy the live dealer requirement in order to run table games, Stakelogic will lend its live dealer studios to the Bally Casino platform in Rhode Island.
We are very excited about our partnership with Bally’s as it will finally enable Stakelogic to bring its technology to the US,” said Stakelogic CEO Stephan van den Oetelaar. “It will also enable us to build on our tremendous growth since launching live casino 14 months ago, positioning Stakelogic as a leading technology company in the iGaming industry.”
Bally’s could have gone with Evolution Gaming, which is considered to be the iGaming industry leader for live dealers. The company has multiple live dealer studios already in the US.
But Bally’s found Stakelogic to be a better fit. A Bally’s release called Stakelogic “one of the rising stars of iGaming.” Stakelogic is live in more than 20 overseas markets.
iGaming Expansion
Sports betting quickly expanded across the US after the Supreme Court in May 2018 struck down the federal ban that had limited single-game wagering to Nevada. But unlike sports betting, which has found favor in more than 30 state capitals, iGaming hasn’t gained nearly the same support.
iGaming presents a much larger prize than sports betting for gaming operators, as sports margins are razor-thin. In New Jersey, for instance, oddsmakers last year kept about $726.3 million of the more than $10.9 billion bet on sports. Online casinos in the Garden State meanwhile generated gaming revenue of over $1.66 billion — more than double what the sportsbooks won.
Rhode Island lawmakers debated the merits of allowing iGaming, with many elected officials in opposition. But the majority eventually went with legalization in order to keep the Ocean State at the forefront of the US gaming industry.
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