Welcome to RI Lottery 101 - An Overview of the State's 3rd Largest Source of Revenue
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Welcome to RI Lottery 101 - An Overview of the State's 3rd Largest Source of Revenue
The lottery is the 3rd largest source of state revenue.The hearings have begun to review the proposed extension of IGT's 20-year contract with the State of Rhode Island.
IGT has nearly 1,100 jobs in Rhode Island that average $100,000 in compensation -- the company has agreed to guarantee the jobs continue for the length of the agreement.
Despite all the incentive programs Rhode Island has provided to in-state and out-of-state businesses, no other company has agreed to a jobs guarantee.
Twin River, the company that manages Rhode Island's two casinos is challenging the agreement with IGT and despite never having run a lottery, says it can provide a better deal.
Between the Senate and the House, a total of seven hearings will be held. The House is scheduled to begin hearings this coming week.
Overview
At Thursday night's hearing, representatives of the State provided an overview of the fiscal impact of the lottery to the state's budget.
It is the third-largest state source of revenue to the state -- totaling more than 10%.
READ THE PRESENTATION BELOW
Lottery 101 - Department of Revenue Presentation - September 2019
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