With the addition of MGM Springfield and Twin River Tiverton, the cannibalization concerns are being realized in the New England casino market.
The Tiverton Casino Hotel in Tiverton, Rhode Island opened its sportsbook to the public on Dec. 3 as the second betting outpost in RI in two weeks.
Rhode Island’s Twin River Casino in Lincoln opened its doors for sports betting on Nov. 26, making it the eighth state to offer sports betting.
In New England, the addition of MGM Springfield and Twin River Tiverton took a bite out of the competition’s revenue, but appear to be growing the market.
MGM Springfield opened its doors in August, and its $10 million in revenue appears to be broadening the region’s player base instead of cannibalizing it.
William Hill and IGT have partnered to offer sports betting solutions to state lotteries. The two already have a contract for the Rhode Island lottery.
New England casinos posted a whopping $166 million in slot revenue in July. Following the recent openings of MGM Springfield and Twin River Tiverton, that number will only skyrocket.
After a delay, a sports betting agreement between the Rhode Island Lottery, IGT and William Hill is paving the way for a November launch.