Gaming News

Rhode Island slot income drops

PROVIDENCE, Rhode Island -- As reported by The Providence Journal "Net income fell in July at Rhode Island's two slot parlors even as people gambled more money at Twin River and Newport Grand, according to the most recent Rhode Island Lottery data.

"'[Gamblers are] probably cashing out sooner than they would have,' in flusher times, said Sandra Lee, a Lottery spokeswoman.

"Players put $214,389,788 into the video gambling machines in July at Twin River and Newport Grand, combined, up 6.8 percent from the $200,676,136 they put into the machines during July 2008.

"But the machines netted about 1.3 percent less in July, $41,023,969, than the $41,552,359 netted in July 2008. The state retains about 61 percent of the net income, with the remainder divided among the slot parlors, machine vendors and the host communities.

"Despite the decline, the slot parlors are faring far better than most casinos around the country, many of which are suffering in the recession..."

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