The R.I. Lottery announced Thursday it has reached a three-year contract extension with International Game Technology PLC to run its sports betting app.
IGT has managed and operated Sportsbook Rhode Island since its launch in 2018. During that time the R.I. Lottery has transferred more than $71 million to the Rhode Island General Fund that was generated through the app.
IGT’s contract was set to expire in November.
“The state has a valued and dependable partner in IGT. The Rhode Island-based company has demonstrated its ability to provide a sports betting product, which helped the Rhode Island Lottery produce some of the highest returns to the state, on a per-capita basis, in the nation,” said R.I. Lottery Director Mark A. Furcolo. “Now that most New England states have sports betting operational, the extension affords the Lottery the time necessary to conduct a regional market assessment and economic analysis of the current sports betting operating model.”
As part of the extension, IGT has agreed to pay a percentage of the payment service provider fees associated with mobile transactions. The payment will result in approximately $1.5 million in total savings to the R.I. Lottery over three years.
Also, the R.I. Lottery will conduct a regional market assessment to ensure the state’s retail and mobile sports betting products are effectively generating revenue and to assess the effectiveness of the current sports betting operating model for retail and mobile offerings.
https://pbn.com/igt-gets-3-year-extension-to-run-lotterys-sports-betting-app/