November 1
In Rhode Island, online slots players and
land-casino gamblers alike, are learning that the state's thriving
casino gambling industry is showing its first signs of a slow period.
For many years, slot machines at Lincoln Park and
Newport Grand have seen double-digit growth. But now -- while the
machines are still extremely profitable -- they are not producing the
same boom, and that could have grave ramifications for the state.
The 2005 state budget is based on the assumption
that slot-machine revenue would increase by 15.3 percent. However, data
presented yesterday by the Rhode Island Lottery show that since the
start of the fiscal year on July 1, there has been only a 4.2-percent
bump.
As it stands, the slot revenue is $5.7 million
short of expectations, and revenue from other lottery games is down $1.6
million, according to House Fiscal Adviser Michael O'Keefe.
The news comes just as Lincoln Park today brings
on line 600 new slot machines on its second floor. The added units are
the first of 1,750 machines authorized by the General Assembly and
Governor Carcieri in July and bring Lincoln Park to 3,602 total slots,
about half of what Foxwoods Resort Casino has.
Lincoln Park officials would not say why their
pace of expansion had slowed down.